The Bureau of Economic Analysis (BEA) released its advance estimate of second-quarter GDP growth, revealing unexpected strength in the U.S. economy.

As July draws to a close, investors and Federal Reserve officials alike are poised on the edge of their seats, eagerly awaiting two crucial economic reports that will shed light on the health of the U.S. economy.

Gold futures rebounded strongly on Tuesday, with the most active August contract reclaiming the $2,400 per ounce mark as traders positioned themselves ahead of crucial economic data releases.