Spot pricing for Gold $AU3782

Spot pricing for Silver $AU42.79

Spot pricing for Platinum $AU1425

CPI data coming out from the FED later today will surely inform an upcoming rate cut. With economists predicting inflation YoY to land at 2.6% – we’re now firmly in the region of inflationary growth that the FED perceives as ‘healthy’. And based on this prediction, the US could well be looking at a 50 basis point reduction to help stimulate their lagging labour economy.

As Australia also comes to grips with its inflationary position, we could well be looking at a little rate cut in September as well, although the pressure to reduce rates is less present in our economy than our US neighbours.

Gold is still sitting around all time highs – which is a key indication of the risk and volatility being felt in the sharemarket. And while the US presidential elections continue to grab headlines, Gold is primed to continue its solid positioning through this period.

As the FED reveal their CPI, we’ll have more commentary around rate cuts and their implications for both Gold and other markets.

Enjoy today’s charts.

Gold daily chart, with 200MDA