Gold climbed above $4,400 an ounce and touched $4,412.80 intraday, its highest level in two months, ahead of the U.S. July CPI report after a 3.6% gain over the previous two trading sessions. The rally accelerated after spot gold broke above its 100-day moving average, with technical buying, inflows into Chinese gold exchange-traded funds and continued central-bank purchases adding support; Hebe Chen, an analyst at Vantage Markets, said the move may signal a new upswing even as the dollar and oil prices strengthen. Markets are weighing earlier weaker U.S. jobs data and the Federal Reserve's decision to hold rates steady against fresh inflation risks, as economists surveyed by Bloomberg expect July CPI to rise 0.1% after June's 0.4% decline, while higher energy prices, U.S.-Iran tensions around the Strait of Hormuz and Cleveland Fed President Beth Hammack's warning that more than one additional rate increase may be needed keep policy uncertainty elevated.