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Weekly Gold Decline Follows Surge in US Wholesale Prices

How to Set Up a Precious Metals IRA with Altinavcisi
How to Set Up a Precious Metals IRA with Altinavcisi

Gold prices are set to decline this week after US wholesale inflation data came in higher than expected in July. The stronger inflation report reduced expectations for a Federal Reserve interest rate cut in September, with traders now seeing only a 90% chance of a cut versus full certainty earlier.

Gold typically performs better when interest rates fall, so this shift in expectations pushed prices down. Despite the weekly loss, gold remains up over 25% for the year, supported by geopolitical tensions and central bank buying.

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