Gold slides 0.7% to $4,152.86 an ounce as September loss nears 6.6%
AI Market Summary
Gold slipped as rising energy prices pushed yields higher, offsetting support from a softer-than-expected core PCE print that reduced near-term Fed hike odds. Despite a weaker dollar post-data, bullion remained pressured by still-elevated expectations for further tightening and month-end positioning, leaving gold on track for a monthly decline. Broader precious metals also weakened, underscoring cross-metal sensitivity to rates and real-yield dynamics.
Impact level
● Medium
Affected assets
NCCOGOLD2USD/USDT-0.06%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▼ Bearish
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Spot gold fell 0.7% on Wednesday to $4,152.86 per ounce, bringing its September decline so far to 6.6%. U.S. August PCE inflation rose 0.3% month on month, while core PCE increased 3.0% year on year, both slightly below expectations. But higher energy prices offset the softer inflation signal, keeping expectations for further rate increases elevated and pressuring precious metals.
