The US economy released at 12:30 GMT, its monthly reading for the CPI in July, which rose by 0.3%, in line with forecasts and better than the previous reading of 0.1%.

The core CPI reading (excluding food and fuel) for July rose by 0.3%, better than forecasts of 0.2%, the same as the previous 0.3%, which is positive for US dollar.

US dollar fell in the European market today against a basket of currencies, resuming losses for the third day, on investors' risk aversion, due to global political turmoil concerns, ahead of the release of key US inflation data, which provides strong evidence about the possibility of US rate cuts this year.

Dollar fell by 0.1% to 97.36 points, from the opening of 97.48, with a high of 97.64.

Dollar shed 0.2% yesterday, its second daily loss in a row, as investors continued to focus on buying low-yielding currencies.

Dollar shed 1.1% last week, its first weekly loss in a month, due to risk aversion and US Treasury yields dropping.

Hong Kong's protests strikes and protests, led to the close of one of the world's largest airports for air cargo, while The Italian Senate is scheduled to meet today to determine the date for widrawing confidence from the government, and in Argentina, President Mauricio Macri unexpectedly lost in the presidential primary elections.

These events have fueled investors' concerns about the global policy situation and risk aversion in high-yielding assets, which is now reflected in the sharp downturn that dominates global stocks markets.

Investors are anticipating key US inflation data for July, which provides strong evidence on US Fed's rates cuts for this year.

By 12:30 GMT, the US monthly CPI reading is expected to grow by 0.3% vs. 0.1% in June, while the annual CPI reading may grow by 1.7% vs. 1.6%.

Gold rose as the European market opened today, reaching a 6-year high, and continuing gains for the second day, on strong safe demand, and investors' risk-aversion, due to the growing global geopolitical tensions and global economic slowdown concerns.

As of 10:33 GMT, gold rose 1.4% to $1,531.47 an ounce, from the opening of $1,510.87, with a high of $1,534.97 (the highest since April 12, 2013) and a low of $1,509.63.

Gold closed yesterday higher by more than 0.9%, resuming its gains as global stock markets fell.

Last week, gold rose by 3.9%, posting its second weekly gain, and the biggest weekly gain since June, on safe-haven demand, due to the escalating US-China trade war, amid strong market's bets for global central banks to ease monetary policy and cut interest rates.

Concerns about global geopolitical tensions are mounting as Hong Kong's protests strikes and protests, led to the close of one of the world's largest airports for air cargo, with an unexpected loss for Argentine President Mauricio Macri in the primary elections.

While in Italy, Deputy Prime Minister Matteo Salvini and the leader of the NLD party called for an early elections.

In addition to global treasury bond yields falling, which indicates a global economic slowdown and a recession that didn't happen since 2008 global crisis.

Gold holdings of SPDR Gold Trust, rose yesterday by 7.92 metric tons, to a total of 847.77, which is the highest since May 29, 2018.

Oil rose in the European market today, to continue to rise for the fourth day, to a 1-week high, on Saudi Arabia's measures to support the market and to stop prices from falling further.

As of 09:30 GMT, WTI rose to $54.90 a barrel, from the opening of $54.70, with a 1-week high of $55.27, and a low of $54.52.

Brent crude rose to $58.60 per barrel from the opening of $58.46, with a high of $58.86, and a low of $58.08.

WTI rose by 0.9% yesterday, and Brent rose 0.2%, in their third straight daily gain.

Bloomberg announced that a Saudi official said that Saudi Arabia is considering more measures to stop oil prices from falling further.

Riyadh announced its intentions to set its oil exports below 7 million barrels per day in August and September.

As the Saudi officials see that they should interfere with the price slump, especially ahead of Aramco's initial IPO, which could be largest offering ever in the world.

Saudi Arabia may cut production, in addition to making other producers to join this cut, and if the OPEC Plus alliance cut production more than previously agreed, it is likely that Riyadh will bear the biggest share of the cut.

Meanwhile, OPEC Plus are currently executing a global agreement to cut oil production by 1.2 million barrels per day until March 2020.