Dollar Crushed as Gold Surges Above $4,100

Gold prices surged on Thursday by 0.92% to $4,100 as the US Dollar plummeted following suspected intervention in the foreign exchange markets.

The Japanese Yen hit a near two-month high against the Greenback, contributing to the Dollar's decline.

The Fed's preferred inflation gauge, the Core Personal Consumption Expenditures (PCE) Price Index, ticked lower from 3.4% to 3.3% YoY as expected, while US economic growth slowed to 1.5% in Q2 2026, missing forecasts.

The odds of a rate hike are now slim at 30%, with the chances of a hold rising sharply to 70%, according to Prime Terminal data.