Gold Hovers at 10-Week High

2026-08-13 13:31 By Agna Gabriel 1 min. read

Gold fluctuated around $4,400 an ounce, remaining close to a 10-week high as softer US inflation data reinforced expectations that the Federal Reserve will leave interest rates unchanged next month.

US producer-price inflation eased more than expected in July, helped by lower energy and food costs, providing further evidence that price pressures are not broadly accelerating.

However, renewed tensions in the Middle East remain a risk, as any disruption could push energy prices higher and revive inflationary pressures.

Oil is heading for a weekly gain as traders continue to monitor efforts by the US and Iran to end the conflict and reopen the Strait of Hormuz.

Gold has also benefited from stronger investor demand and continued central-bank purchases, with China adding around 20 tonnes to its reserves in July, marking the 21st consecutive month of accumulation.

Globally, central banks purchased an estimated 289 tonnes of gold in the second quarter.



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Gold Hovers at 10-Week High
Gold fluctuated around $4,400 an ounce, remaining close to a 10-week high as softer US inflation data reinforced expectations that the Federal Reserve will leave interest rates unchanged next month. US producer-price inflation eased more than expected in July, helped by lower energy and food costs, providing further evidence that price pressures are not broadly accelerating. However, renewed tensions in the Middle East remain a risk, as any disruption could push energy prices higher and revive inflationary pressures. Oil is heading for a weekly gain as traders continue to monitor efforts by the US and Iran to end the conflict and reopen the Strait of Hormuz. Gold has also benefited from stronger investor demand and continued central-bank purchases, with China adding around 20 tonnes to its reserves in July, marking the 21st consecutive month of accumulation. Globally, central banks purchased an estimated 289 tonnes of gold in the second quarter.
2026-08-13
Gold Pulls Back Ahead of US PPI Data
Gold slipped below $4,400 an ounce on Thursday after reaching a ten-week high earlier in the session, as investors adopted a cautious stance ahead of US producer inflation data for further insights on recent price trends. Data released Wednesday showed US consumer inflation eased for a second consecutive month to 3.4% in July, while increasing just 0.1% from the previous month. Markets now see around a 40% chance of a 25 basis point rate hike from the Federal Reserve in September, down from nearly 50% a day earlier. Gold also remained under pressure from elevated oil prices as hopes for a deal to reopen the Strait of Hormuz stayed limited. Escalating rhetoric between the US and Iran amid stalled negotiations further reduced expectations for an imminent agreement.
2026-08-13
Gold Holds Firm on Tame US Inflation Data
Gold held above $4,400 an ounce on Thursday, hovering near ten-week highs as relatively stable US consumer inflation reduced pressure on the Federal Reserve to raise interest rates in the near term. Data released Wednesday showed US consumer inflation slowed for a second consecutive month to 3.4% in July, while rising just 0.1% from the previous month. Investors now await producer inflation data due later in the global day for further clues on the trajectory of price pressures. Markets now see around a 40% chance of a 25 basis point rate hike from the Fed in September, down from nearly 50% a day earlier. Gold also drew support from a pullback in oil prices as investors assessed the prospects of a deal to reopen the Strait of Hormuz. However, escalating rhetoric between the US and Iran amid deadlocked negotiations reduced the likelihood of an imminent agreement.
2026-08-13