Gold holds near $4,396.69/oz as markets await U.S. inflation data
AI Market Summary
Gold is steady as markets await US PPI and CPI prints that could reshape expectations for the Fed's rate path. A Reuters poll leans toward rates on hold, but FedWatch still prices meaningful hike odds, keeping real-rate uncertainty elevated and limiting directional conviction in non-yielding metals. Focus also shifts to an ECB decision and geopolitics around Hormuz, which can support haven demand across precious metals.
Impact level
● Medium
Affected assets
NCCOGOLD2USD/USDT-1.75%
AI Insight · NCCOGOLD2USD/USDTAI Insight
● Neutral
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Spot gold hovered around $4,396.69 per ounce, while December gold futures fell 0.4% to $4,440.80. Investors are awaiting the U.S. producer price index and consumer inflation data to gauge the Federal Reserve’s interest-rate path. Most economists expect the Fed to keep rates unchanged at its September 1516 meeting and through the rest of the year, though the CME FedWatch Tool still shows markets pricing a 60% chance of a hike this month. Elsewhere, silver was flat, platinum edged up 0.1% and palladium rose 0.2%, with the European Central Bank set to announce its rate decision.
