Gold Nears Two-Month High Ahead of Wednesday's CPI Report

Gold pushed toward $4,450 an ounce Tuesday, its best level in about two months, as a stalled U.S.-Iran deal to reopen the Strait of Hormuz kept oil elevated and traders braced for a Wednesday inflation report that could decide whether a September Fed rate hike is really off the table. Silver pushed above $65 for a second straight session, extending its climb to a seven-week high. The rally traces back to Friday's jobs report, which showed the U.S. economy shed 23,000 positions in July. That knocked the market's odds of a September hike down to…