{
  "id": 682263,
  "title": "Gold price tops $4,500 in New York as tame US inflation cools Fed hike bets",
  "url": "https://urgent.news/2026/08/12/gold-price-tops-4-500-in-new-york-as-tame-us-inflation-cools-fed-hike",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-12T17:17:04.000Z",
  "source": {
    "name": "Mining.com",
    "slug": "mining-com",
    "url": "https://www.mining.com/gold-price-tops-4500-in-new-york-as-tame-us-inflation-cools-fed-hike-bets/"
  },
  "original_language": "en",
  "account": "Gold prices surged to a two-month high in New York on Wednesday, while silver followed closely behind. The Comex December gold contract reached $4,502.70 per ounce, marking its highest level since mid-June. Spot gold prices also rose, trading at $4,473.00, a 0.7% increase by early afternoon in New York. Similarly, spot silver climbed as much as 3.2% to $66.98 per ounce, its highest since June, and held a 0.9% gain at $65.54. Platinum and palladium also experienced gains, with platinum rising 0.9% to $1,771.30 and palladium increasing 0.3% to $1,374 per ounce. Consumer prices in the United States remained modest, with the CPI rising by 0.1% in July and 3.4% year-over-year. Despite a 40% chance of a Federal Reserve interest rate hike in September, the likelihood of an October hike dropped to around 60%. Analysts noted that gold had yet to confirm a new bull-market advance, with support around $4,200 being crucial and the major upside target being the 200-day moving average, currently near $4,500.",
  "summary": "Traders still put a 40% chance on a September Fed hike, and Saxo Bank says bullion's real test is the 200-day moving average just below $4,500.",
  "key_points": [
    "Gold price hits $4,502.70 per ounce in New York",
    "US CPI rises 0.1% in July, 3.4% year-over-year",
    "Fed hike bets drop to 60% after September"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "FXStreet",
        "title": "Gold price shines above $4,400 as inflation dip fuels Fed relief",
        "url": "https://urgent.news/2026/08/12/gold-price-shines-above-4-400-as-inflation-dip-fuels-fed-relief",
        "published": "2026-08-12T19:05:32.000Z"
      },
      {
        "outlet": "CNBC",
        "title": "How the market is trading gold as Fed rate hike and inflation odds shift",
        "url": "https://urgent.news/2026/08/12/how-the-market-is-trading-gold-as-fed-rate-hike-and-inflation-odds",
        "published": "2026-08-12T19:57:25.000Z"
      }
    ]
  },
  "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."
}