US PCE inflation for July 2026 came in at 3.7%, slightly above market expectations of 3.6%, according to data released by the US Department of Commerce. This higher-than-expected figure suggests persistent inflationary pressures that could influence the Federal Reserve’s monetary policy decisions, particularly regarding interest rates. In the gold market for August 2026, the likelihood of prices reaching $4,700 has declined to 61.6%, down from 75% the previous day, as investors adjust their expectations due to potential hawkish Federal Reserve policies. Expectations for Federal Reserve decisions from July to October 2026 have also been impacted, with shifting probabilities for rate cuts or pauses.
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