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COMEX gold jumps $144 to $4,180 an ounce as US inflation cools and dollar slides to 100.3

AI Market Summary
Softer US June PCE inflation pushed the dollar index to a near six-week low and reduced perceived Fed tightening risk, supporting a sharp rally in COMEX gold and a solid gain in silver. The move reflects lower real-rate expectations and improved USD-adjusted affordability for non-US buyers. Elevated Middle East tensions add an additional risk-premium tailwind to precious metals in the near term.
Impact level
● High
Affected assets
NCCOGOLD2USD/USDT-1.58%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▲ Bullish
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⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.
On July 30, cooler U.S. inflation data for June prompted markets to scale back expectations for a September Fed rate hike, pushing the dollar index down to 100.3, a nearly six-week low. COMEX gold futures surged $144 to $4,180 per ounce, while silver futures rose $1 to $59.17 per ounce. The move reflected a double boost for precious metals from softer real-rate expectations and a weaker dollar.
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