MCX gold and silver jump over 1% as US July CPI cools to 3.40% and Fed hold odds rise to 69.90%
AI Market Summary
Cooling US inflation (July CPI 3.40%) and softer labor data are reinforcing expectations for easier Fed policy, pressuring USD and yields and improving the relative appeal of non-yielding precious metals. Heightened West Asia geopolitical risk and reported central-bank buying add safe-haven support. Silver is additionally underpinned by record-high industrial demand projections (710m oz) and a physical deficit, boosting broad bullion sentiment.
Impact level
● Medium
Affected assets
NCCOGOLD2USD/USDT+0.27%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▲ Bullish
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US consumer inflation cooled in July, with the CPI easing to an annual rate of 3.40%, pointing to reduced price pressures. Traders have also shifted expectations for US monetary policy, with the CME FedWatch Tool showing a 69.90% implied probability that the Federal Reserve will keep rates unchanged at its September 16 meeting, up from 47.60% a month earlier. Geopolitical tensions in West Asia have added to demand for safe-haven assets. Separately, industrial demand for silver is expected to reach a record 710 million ounces this year, supporting MCX gold and silver prices.
