Gold edges up 0.2% but heads for a third straight weekly loss ahead of U.S. CPI
AI Market Summary
Gold is on track for a third straight weekly decline as stronger-than-expected U.S. PPI lifted expectations for tighter Fed policy. Markets now await U.S. CPI for confirmation, with a firmer inflation print potentially supporting the dollar and yields, which typically pressures non-yielding gold. Rising oil tied to Middle East tensions may add to inflation concerns, but has not offset rate-driven headwinds.
Impact level
● Medium
Affected assets
NCCOGOLD2USD/USDT-1.37%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▼ Bearish
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Spot gold rose 0.2% on Friday to $4,324.79, but is down more than 2% so far this week and is set for a third consecutive weekly decline. Pressure on bullion intensified after U.S. August PPI data came in above expectations, reinforcing bets the Federal Reserve could raise rates. Traders are now awaiting U.S. CPI figures for clearer signals on the Fed’s policy path. Spot silver slipped 0.3% and is down more than 4% for the week.
