Gold slips 0.2% to $4,339.96 an ounce as U.S. inflation boosts September Fed hike odds to 88%
AI Market Summary
Hotter-than-expected US core CPI reinforced expectations for a near-term Fed rate hike (around 88% priced), lifting the dollar and pressuring non-yielding bullion. Spot gold edged lower near $4,340/oz, with broader precious metals also weaker. While Middle East tensions and elevated oil prices add inflation risk, the immediate impulse is tighter financial conditions, which typically weighs on gold demand in the short run.
Impact level
● High
Affected assets
NCCOGOLD2USD/USDT-0.99%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▼ Bearish
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U.S. core CPI rose 0.3% month-on-month in August, coming in hotter than expected and lifting market pricing for a Federal Reserve rate increase in September to about 88%. The data pushed the dollar higher, weighing on precious metals. Spot gold fell 0.2% to $4,339.96 an ounce, while silver dropped 0.8% to $64 an ounce.
