{
  "id": 3526877,
  "title": "Gold drops 1% after in-line U.S. inflation data",
  "url": "https://urgent.news/2026/08/26/gold-drops-1-after-in-line-u-s-inflation-data",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-26T14:35:18.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40436621/gold-drops-1-after-in-line-us-inflation-data"
  },
  "original_language": "en",
  "account": "Gold prices took a 1% dip on Wednesday after U.S. inflation data came in line with forecasts, heightening expectations of an upcoming Federal Reserve interest rate hike. Spot gold dipped to $4,611.79 per ounce, marking a decline since its May peak. U.S. gold futures also saw a 0.6% drop to $4,667.10. The U.S. dollar surged 0.2%, making gold pricier for non-dollar holders. Peter Grant of Zaner Metals noted that gold's price movement was primarily profit-taking. The Personal Consumption Expenditures Price Index, which the Fed uses for rate-setting, rose 3.7% over the previous year, slightly higher than the expected 3.6%. Traders now view a 40% chance of a rate hike next month, up from 36% pre-data, with a 60% chance that the Fed will keep rates steady, according to the CME FedWatch Tool. High-interest-rate environments often diminish gold's appeal, but Grant sees potential for the metal to reassert an uptrend and reach new highs by mid-2027. Geopolitical developments include an agreement between Iran and Oman on the Strait of Hormuz, though reopening the waterway depends on U.S. acceptance of their terms. Silver fell 0.7% to $68.15 per ounce, platinum declined 0.3% to $1,851.55, and palladium rose 0.5% to $1,333.50.",
  "summary": "Gold prices extended losses after U.S. inflation data came largely in line with expectations on Wednesday, increasing bets on a Federal Reserve interest-rate hike next month, while investors also awaited remarks from Chairman Kevin Warsh this week. Spot gold fell 1% to $4,611.79 per ounce by 1310 GMT (9:10 a.m. EDT), after prices had climbed to their highest since May 14 on Tuesday. U.S. gold…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}