AuAltinavcisiPrecious metals news and analysis

Fed & yields

Gold Breaks Higher as Mild Inflation Data Boosts September Rate Cut Hopes

The Cup, the Handle, and Gold's 'Final Third' Phase
The Cup, the Handle, and Gold's 'Final Third' Phase

Gold prices rose on Wednesday, climbing 0.6% to $3,363.61 per ounce, as investors increasingly bet on a Federal Reserve interest rate cut in September.

The rally was driven by mild inflation data and a weakening dollar, which made gold more affordable for international buyers.

Markets are now pricing in a 96% chance of a rate cut next month, with gold benefiting as a traditional safe-haven asset that performs well in low-interest environments.

Eight more from the desk

Other dispatches from the bullion wire.