Surprise CPI Drop Propels Gold Prices Towards All-Time Highs Gold futures experienced a significant surge on Thursday, approaching record highs following the release of U.S. inflation data showing a cooling trend. The Consumer Price Index (CPI) reported a 0.1% decrease in June, the first decline since May 2020, which investors interpreted as potential justification for the Federal Reserve to implement interest rate cuts. This unexpected downturn in inflation has bolstered sentiment among those anticipating earlier rate reductions. As a result, August gold futures on Comex rose by 1.8% to $2,421.90 an ounce, nearing the all-time intraday high of $2,454 and settlement high of $2,438.50 set on May 20. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Soft U.S. Data Pushes Gold to Two-Week High READ MORE Elections and Political Uncertainty – Critical drivers of Gold Demand and the Gold Price READ MORE Central Banks' Gold Reserves Grow for Ninth Month Despite Slowdown READ MORE Powell Signals Fed's Pivot: Job Market Concerns May Prompt Rate Cuts READ MORE Harris to Outline Economic Vision at Chicago Convention READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment