Gold pulls back after July PCE holds at 3.7% and October Fed hike odds rise to 54.7%
AI Market Summary
U.S. July PCE inflation held at 3.7% versus 3.6% expected, lifting implied odds of an October Fed hike to 54.7%. Treasury yields rose (2Y above 4.22%, 10Y above 4.66%) and the dollar strengthened, tightening financial conditions. Non-yielding precious metals sold off: gold failed at the $4630–$4650 resistance zone and slipped toward $4600, dragging silver and platinum lower.
Impact level
● Medium
Affected assets
NCCOGOLD2USD/USDT-0.05%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▼ Bearish
Trade now
⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.
The U.S. PCE Price Index held steady at 3.7% year over year in July, above the 3.6% consensus forecast. After the release, expectations for further Fed tightening firmed, with the implied probability of an October rate hike rising to 54.7%. U.S. Treasury yields climbed, with the 2-year moving above 4.22% and the 10-year holding above 4.66%. Gold failed to break $4630–$4650 and slipped back toward $4600, while silver came under pressure as it tested support near $68.00.
