[Events] Gold Jumps 7% — New High or Pullback This Week?

TigerEvents
08-10 19:35

Gold is back in the spotlight.After surging more than 7% last week, gold posted its strongest weekly gain since January. U.S. gold futures have also reclaimed the $4,400 level, while spot gold is trading around $4,340. $XAU/USD(XAUUSD.FOREX)$ $Gold - main 2612(GCmain)$

The rally accelerated after a surprisingly weak U.S. jobs report cooled expectations for another Federal Reserve rate hike. A softer rate outlook pushed Treasury yields and the U.S. dollar lower, giving gold another boost.

What to watch ？

The U.S. will release July CPI on Wednesday, August 12, followed by PPI on Thursday, August 13. Both reports could quickly reset expectations for the Fed — and determine whether gold’s rebound has more room to run.

A softer inflation print could ease rate-hike fears further and potentially help gold challenge recent highs. Hotter-than-expected inflation, however, could revive concerns about higher rates and trigger profit-taking after last week’s sharp rally. Reuters notes that markets have already cut the implied probability of a September Fed rate hike to around 44%.

Gold still has longer-term support from central-bank demand and safe-haven buying, but after such a fast rebound, this week’s inflation data could decide the next move.

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⏰ Event Duration

Gold Breaks $4,400, Silver Tops $66 — What's the Pre-CPI Trade?
Gold futures surged 3.32% Monday to $4,484/oz, breaking above $4,400 to hit a seven-week high, while silver jumped 4.70% to $66.31, outpacing gold. The driver traces back to last week's payrolls: jobs fell by 23,000, wage growth slowed to 3.2%, September rate-hike bets were pared, and easing oil prices cooled inflation fears — sending yields and the dollar lower and shifting precious metals' narrative from safe-haven to falling real rates. Wednesday's CPI is the next test for this thesis. With buyers front-running the data, are gold and silver betting on cooling inflation or a policy pivot?
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Comments

  • Ancient One
    08-11 00:34
    Ancient One
    If the US releases accurate data, then Gold would have been $5000 by now. Trump administrations has punished everybody who published numbers that don't look good on Trump. Jobs numbers are definitely down !
  • nogravityhere
    08-11 00:57
    nogravityhere
    Definitely bullish. The yen carry trade is being unraveled, regardless of interventions by the us and japanese central banks to prop up the yen. US inflation is certainly on a upward trend. The AI euphoria is just masking the sputtering economy.
  • highhand
    08-10 21:15
    highhand
    up. all metals will go up... euphoria is coming
  • ECLC
    08-11 14:16
    ECLC
    Bullish on gold since back in spotlight.
  • Myrttle
    08-11 10:30
    Myrttle
    Bullish on gold. China will keep buying
  • nogravityhere
    08-11 00:52
    nogravityhere
    Definitely bullish.
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