Gold climbs to nine-week high ahead of US inflation data

Gold is a shiny metal that people buy to keep their money safe.

Lately, more and more people want to buy gold, so its price is going up.

On Monday, gold reached its highest price in about two months, a nine-week high.

One reason is that China's central bank, the big bank that helps run the country's money, bought a lot of gold in July.

Another reason is that people think inflation, or the rising cost of everyday things, is slowing down in the United States.

The US government will soon release new reports about inflation, and investors are waiting to see them.

If inflation is cooling, the Federal Reserve might not raise interest rates as much, which makes gold more attractive.

Traders currently think there is a 52% chance of a rate hike in September.

Many investors are buying now because they don't want to miss out if the price keeps climbing.