Gold steadies near 10-week high as markets await U.S. CPI data
AI Market Summary
Gold is holding near a 10-week high as markets await U.S. CPI for fresh direction on the Fed path. Rate-hike odds for September have eased after a weaker jobs report, but higher oil prices tied to Middle East tensions keep inflation risks elevated, complicating the real-rate outlook for bullion. Technical resistance near the 100-day moving average is capping upside while silver, platinum, and palladium trade rangebound.
Impact level
● Medium
Affected assets
NCCOGOLD2USD/USDT+0.69%
AI Insight · NCCOGOLD2USD/USDTAI Insight
● Neutral
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Gold held near a 10-week high, with spot prices up 0.3% at $4,377.79 an ounce while U.S. futures were little changed. The metal earlier touched its highest level since June 5 but met resistance at the 100-day moving average around $4,387. Traders have cut the implied chance of a September Federal Reserve rate hike to 48% and are awaiting U.S. CPI data to reassess the rate path. Inflation worries tied to the Middle East conflict have offered support, while silver, platinum and palladium traded in narrow ranges.
