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Commodities

Gold Soars Past $4,438 on Cooling Inflation Data

Guavy AI Editorial Team
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Gold
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Gold prices surged past $4,438 as the latest July CPI data provided some breathing room for the Federal Reserve's rate-hike concerns.

The inflation data cooled down from previous months, easing fears of further interest rate hikes. However, Fed officials remain cautious, with three members voting for a 25-basis-point hike at the last meeting.

Market analysts will be closely watching the upcoming August CPI release on September 11 and fresh employment data to inform the FOMC's decision in September.

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