Gold futures rose on Tuesday and settled at their highest level since early June. Fawad Rasaqzada is a market analyst for City Index and Forex.com. He said that recent gains in gold were triggered by a sharp drop in the U.S. Dollar last week, amid expectations the Federal Reserve was “close to ending its rate-hiking cycle” after CPI and PPI inflation measures came out weaker than expected. He said that Tuesday’s data showing lower U.S. retail and industrial production numbers “further fuelled those expectations.” This, in turn, caused Treasury yields to drop, which helped support zero- and low-yielding investments, such as gold and silver. Gold for August Delivery , +0.08% gained $24.40 or almost 1.3% to settle at $1.980.80 per ounce on Comex. This was the most active contract finish since FactSet data from June 6.