Gold prices got a boost from a reassuringly in-line CPI report on Wednesday, and while Thursday morning’s equally benign PPI print didn’t push prices higher, the yellow metal has successfully broken out of its recent range and is holding above $4,350 on Thursday afternoon, exactly $100 below its post-CPI peak.
Spot gold will trade on either side of $4,500 per ounce at the end of 2026, according to a new survey published by the London Bullion Market Association (LBMA).
Today gold's continued upside potential was realized, made possible by a CPI report that came in exactly in line with economists' expectations. The Consumer Price Index increased 0.1% in July from the previous month, according to data released Wednesday by the Bureau of Labor Statistics. Core CPI, which strips out volatile food and energy prices, rose 0.2%. This was the relief gold needed to continue higher.
Gold prices have faced the strong headwind of a high opportunity cost for much of 2026, but falling real rates will drive investors back to the precious metal, with a weaker dollar and strong central bank demand helping to propel prices back toward $5,000 per ounce in the first half of 2027, according to strategists at UBS.
The gold market is holding steady after the latest data shows U.S. producers saw easing price pressures on balance last month.
Gold stalled for the first time since its breakout out of the $4,000 - $4,200 range Tuesday as it made a two-month high and then reversed giving back earlier gains. August futures ended the day with a loss of $20.80 or 0.47% at $4,427. Other than yesterday, today’s closing price is still the highest since June 5th. The movers of gold in Tuesday’s session were based upon fundamental and technical forces, a shift from a market that recently has been driven purely of fundamentals.
The gold market is setting fresh session highs after the latest data showed U.S. inflation pressures cooling in line with expectations last month.
Elliott Investment Management pressed Northern Star Resources for director changes on Wednesday, unveiling a slate of six possible candidates and inviting shareholder support after negotiations with Australia's largest gold miner stalled.
Coinbase, the second-largest cryptocurrency exchange by daily trading volumes and the largest in the United States, has launched gold and silver perpetual futures for eligible non‑U.S. traders, bringing two of the world’s most established store‑of‑value assets into the crypto derivatives ecosystem.
Vancouver, British Columbia, May 6, 2026 – Arizona Gold & Silver Inc. (“Arizona” or the “Company”) (TSXV: AZS) (OTCQB: AZASF) announces assay results from four diamond drill holes completed as part of its ongoing drill program at the Philadelphia Project in Arizona.
