Gold Rises Ahead of US CPI Report

2026-08-12 00:10 By Jam Kaimo Samonte 1 min. read

Gold rose toward $4,400 an ounce on Wednesday, recouping losses from the previous session as investors prepared for key US inflation data that could provide fresh clues on the Federal Reserve’s policy outlook.

Markets remain divided over whether the Fed will raise rates by 25 basis points in September after keeping them unchanged in July, with rising oil prices reinforcing a hawkish bias.

Meanwhile, traders assessed the prospects of a US-Iran deal to reopen the Strait of Hormuz amid shifting signals.

Pakistan’s defense minister said Washington and Tehran are “close to some sort of arrangement” over the strait, while reports indicated that talks between Iran and Oman have reached an advanced stage.

Elsewhere, gold continued to draw support from investment demand and central bank purchases, particularly from China.

China’s central bank added about 20 tons to its reserves in July after buying around 15 tons in June, marking the largest monthly increase since October 2023.



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