Gold climbs 0.7% to $4,379.95/oz as softer dollar follows U.S. inflation data
AI Market Summary
Inline U.S. inflation data and softer payrolls reinforced expectations that the Fed will hold rates next month, pushing the dollar index lower and supporting non-yielding gold. Spot gold rose 0.7% and is tracking a weekly gain as rate-hike probabilities for September fell sharply. Geopolitical risk around Strait of Hormuz shipping adds a secondary support channel via risk premia, though sustained oil strength could reintroduce inflation concerns.
Impact level
● High
Affected assets
NCCOGOLD2USD/USDT+2.00%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▲ Bullish
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After U.S. inflation data, expectations that the Federal Reserve will keep rates unchanged strengthened, pushing the U.S. dollar index down 0.3%. Spot gold rose 0.7% to $4,379.95 an ounce, while silver added 0.7%, platinum gained 1.8% and palladium rose 1.1%. Rate futures indicate the probability of a September hike fell to 33% from 55% previously.
