Gold holds steady as investors await US inflation data and Fed rate outlook
AI Market Summary
Gold is steady near a three-month high as markets await U.S. July PCE inflation data and Fed guidance from Jackson Hole. FedWatch implies a 60.4% chance of no rate change next month, keeping real-rate expectations pivotal for non-yielding bullion. Modest gains in silver, platinum, and palladium and higher China gold imports add support, while trade frictions and Middle East risk remain background drivers.
Impact level
● Medium
Affected assets
NCCOGOLD2USD/USDT+0.21%
AI Insight · NCCOGOLD2USD/USDTAI Insight
● Neutral
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Spot gold was little changed at $4,654.17 an ounce after touching a more than three-month high, while US gold futures rose 0.4% to $4,711.40. Markets are focused on upcoming US inflation data for clues on the Federal Reserve’s interest-rate path, with traders pricing a 60.4% chance of no change next month, according to the CME FedWatch Tool. Spot silver rose 0.2% to $68.80, platinum added 0.1% to $1,858.91 and palladium climbed 1.1% to $1,341.23.
