Gold rises on dip-buying even as Fed rate hike bets rise after US inflation data
Gold is on track for its third consecutive weekly loss as investors react to US inflation data and rising expectations for a September Federal Reserve rate hike. While some Wall Street investors have turned bullish, the metal opened September 11 at its lowest level in over a month. Prices have whipsawed alongside silver as core CPI data and high oil prices bolster the likelihood of higher interest rates. Market sentiment remains divided between a bullish Wall Street and a slim bullish majority on Main Street.
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- ✓ Gold is on track for its third straight weekly loss.
- ✓ US inflation data is influencing Federal Reserve rate hike expectations.
What changed
Core CPI data and elevated oil prices have increased the likelihood of a September rate hike.
Live updates
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Gold prices fluctuate as inflation data increases Fed rate hike bets
Gold is on track for its third consecutive weekly loss as investors react to US inflation data and rising expectations for a September Federal Reserve rate hike. While some Wall Street investors have turned bullish, the metal opened September 11 at its lowest level in over a month. Prices have whipsawed alongside silver as core CPI data and high oil prices bolster the likelihood of higher interest rates. Market sentiment remains divided between a bullish Wall Street and a slim bullish majority on Main Street.
Why it matters
Gold typically moves inversely to interest rates because higher rates increase the opportunity cost of holding non-yielding assets. Recent volatility stems from the US Consumer Price Index report and oil-driven inflation concerns. These factors directly influence the Federal Reserve's decisions on monetary policy.
What is confirmed
- Gold is on track for its third straight weekly loss.
- US inflation data is influencing Federal Reserve rate hike expectations.
Still unconfirmed
- Wall Street has turned bullish on gold prices ahead of the Fed.
- Main Street maintains a slim bullish majority despite weekly price slides.
- Gold opened at its lowest level in over a month on September 11.
- High oil prices are bolstering rate-hike bets.
What to watch next
- Federal Reserve interest rate decision for September
- Further US Consumer Price Index updates
- Movement of oil prices affecting inflation forecasts
confidence 80%Sources used for this update (12)
- Reuters — Gold on track for third straight weekly loss as US inflation data looms
- Bloomberg.com — Gold Wavers as High Oil Prices, Inflation Bolster Rate-Hike Bets
- FOREX.com — Gold weathers violent rates move ahead of US CPI
- forbes.com — Gold And Silver Tumble As September Rate Hike Appears More Likely
- CNBC — Gold on track for third weekly loss as U.S. inflation data looms
- KITCO — Gold, silver prices whipsaw as core CPI keeps Fed hike in play - Kitco AM Report
- Yahoo Finance — Gold price today, Friday, September 11, 2026: Gold opens at lowest level in over a month ahead of CPI data
- KITCO — Wall Street turns bullish on gold price ahead of the Fed, Main Street clings to slim bullish majority despite weekly slide
- CBS News — Thinking about investing in gold bars and coins? Here's where prices could be headed this fall.
- Yahoo Finance — Will Gold Price Fall Below $4,000 Amid Renewed Economic Risks?
- www.marketscreener.com — Vietnam dong, gold rates - September 14
- www.marketscreener.com — TSX opens lower on oil-fueled inflation worries; investors assess CPI
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