U.S. growth, tariff-related inflation worries and a weaker dollar will drive gold to a new record, possibly within three months, says Citi.

Gold prices have largely risen over the past 18 months, approximately, but will they continue to do so this August?

Spot gold was down 0.5 per cent at $3,362.54 per ounce, after hitting a nearly two-week high on Tuesday. U.S. gold futures also fell by 0.5 per cent to $3,417.30. This comes as U.S. Treasury yields inched higher,

Gold slipped on Tuesday due to an uptick in the dollar, though prices remained near a two-week high on growing expectations of a U.S. rate cut in September.

Gold futures edged higher Tuesday, extending the rally that began Friday after significantly weaker than expected U.S. jobs data, including significant downward revisions to previous months' figures,

Gold prices saw an increase. This happened because the U.S. dollar weakened. Treasury yields also went down. Weak U.S. jobs data increased expectations of a Federal Reserve rate cut in September. Silver,