Gold Steadies as US PPI Cools

2026-07-15 13:17 By Joana Ferreira 1 min. read

Gold prices recovered earlier losses to trade slightly higher at $4,070 per ounce on Wednesday, as weaker US inflation data offset concerns over escalating tensions in the Middle East.

US producer prices unexpectedly declined in June for the first time in nearly a year, weighed down by lower energy costs, while core PPI increased by a softer-than-expected 0.2%.

The data followed Tuesday's weaker consumer inflation report, leading investors to reduce expectations for additional Federal Reserve tightening.

However, markets still see roughly a 49% chance of a September rate hike as higher oil prices, driven by the ongoing US strikes on Iran, the reimposition of a naval blockade on Iranian ports, and the closure of the Strait of Hormuz by Tehran, continue to pose upside risks to inflation.

Fed Chair Kevin Warsh also reaffirmed that the central bank has "no tolerance" for persistently elevated inflation.



News Stream
Gold Steadies as US PPI Cools
Gold prices recovered earlier losses to trade slightly higher at $4,070 per ounce on Wednesday, as weaker US inflation data offset concerns over escalating tensions in the Middle East. US producer prices unexpectedly declined in June for the first time in nearly a year, weighed down by lower energy costs, while core PPI increased by a softer-than-expected 0.2%. The data followed Tuesday's weaker consumer inflation report, leading investors to reduce expectations for additional Federal Reserve tightening. However, markets still see roughly a 49% chance of a September rate hike as higher oil prices, driven by the ongoing US strikes on Iran, the reimposition of a naval blockade on Iranian ports, and the closure of the Strait of Hormuz by Tehran, continue to pose upside risks to inflation. Fed Chair Kevin Warsh also reaffirmed that the central bank has "no tolerance" for persistently elevated inflation.
2026-07-15
Gold Slips on Escalating US-Iran Conflict
Gold eased toward $4,000 an ounce on Wednesday, giving back part of the previous session’s gains as escalating tensions in the Middle East kept inflation and interest rate concerns at the forefront of investors' minds. The US launched another round of strikes against Iran while reinstating its naval blockade of Iranian ports near the Strait of Hormuz, raising fears of further disruptions to global energy supplies. Gold had surged more than 1% on Tuesday after softer-than-expected US inflation data prompted traders to scale back expectations for near-term Federal Reserve interest rate hikes. Meanwhile, Fed Chair Kevin Warsh reiterated the central bank’s commitment to restoring price stability during congressional testimony but stopped short of signaling a more hawkish policy stance. Even so, markets continue to price in roughly a 50% chance of a Fed rate hike in September.
2026-07-15
Gold Holds Gains on Soft US Inflation
Gold eased below $4,050 an ounce on Wednesday but held most of the gains from the previous session, as softer-than-expected US inflation data prompted traders to dial back expectations for Federal Reserve interest rates hikes. The annual US inflation rate slowed to 3.5% in June from 4.2% in May, coming in below forecasts of 3.8% as lower oil prices helped ease energy-related inflation. Consumer prices also fell 0.4% from the previous month, marking the first monthly decline since 2020. Meanwhile, Fed Chair Kevin Warsh reiterated the central bank’s commitment to restoring price stability during congressional testimony on Tuesday but refrained from signaling a more aggressive policy stance. Markets continue to price in roughly a 50% chance of a Fed rate hike in September, as renewed tensions between the US and Iran lifted oil prices and kept inflation concerns firmly on investors’ radar.
2026-07-14