Gold Price Rises After Fed Hike Odds Cut

The gold price has recovered from profit-taking, rising 0.3% to $4,435/oz for December delivery on Comex.

This rebound follows softer July US inflation data, which cut money-market odds of a September Fed hike to about one in three from over 40% a week earlier.

Spot gold steadied around $4,353/oz, while silver futures at $65.13/oz left silver down about 8% year-to-date.

BMI now expects gold to average $4,400/oz in 2026 with the dollar index in a 98-102 range.