By Myra P. Saefong and Joseph Adinolfi
Gold prices climbed on Tuesday, looking to tally a third consecutive session gain and holding ground at its highest level in eight months, buoyed by recent weakness in the U.S. dollar and Treasury yields as investors weigh the prospects for a soft landing for the U.S. economy.
Price action
Market drivers
“Whether slightly higher or slightly lower, the fact is that gold displayed considerable resilience,” said Peter Grant, vice Ppresident and the senior metals strategist at Zaner Metals LLC and Tornado Precious Metals Solutions.
“Recent incoming fundamental data have suggested that the pace of inflation is slowing,” he said in his newsletter issued late Monday. “While growth is slowing as well, soft-landing scenarios seem to be gaining traction.”
Nonfarm payrolls data for December released on Friday beat expectations, but the market “latched on to slower-than-expected…
