Commodity Update –

Advisory Bazaar Info Services

Gold prices slipped slightly on Thursday due to a mild uptick in the U.S. dollar index, though strong expectations of a Federal Reserve rate cut in September capped the downside.

The dollar (DXY) rose 0.04% from a more than two-week low against its rivals, making gold costlier for holders of other currencies.

Following fresh data showing that U.S. inflation rose moderately in July, and with recent weak employment numbers, Treasury Secretary Scott Bessent suggested that an aggressive 0.50% rate cut could be possible. This has pushed the probability of a Fed rate cut in September close to 100%.

Investors are now eyeing upcoming U.S. economic data, including the Producer Price Index (PPI) and weekly jobless claims, for further cues on the Fed’s monetary policy outlook.