Gold Nears Record, US CPI in Focus
Gold held steady just below its record, around $3,645/oz, after an unexpected decline in US producer prices (PPI) fueled hopes of Fed policy easing. The market now awaits the release of US CPI data Thursday evening (WIB) for confirmation of the next direction.
Current market expectations price a 25 bps price cut at the Fed's September 16-17 meeting as the main scenario, with a larger cut seen as less likely. Gold's sensitivity is high: cooler inflation data typically weakens the dollar/yields and supports bullion prices.
Performance-wise, gold has gained ~38–39% through 2025, driven by central bank buying, geopolitical uncertainty, and the return of positive inflows from gold ETFs in recent months. These factors have heightened hedging appetite for economic and political risks.
Among other metals, silver held above $41/oz amid positive sentiment in gold. On the corporate side, Barrick Gold has agreed to sell the Hemlo mine—its last gold asset in Canada—to Carcetti Capital for up to $1.1 billion, signaling Barrick's focus on its core portfolio.
Key Takeaways:
Gold holds steady near record; market awaits US CPI.
US PPI falls 0.1% month-on-month → Fed cut expectations strengthen.
YTD performance ~38–39%, supported by central bank and ETF inflows.
Silver >$41; Barrick sells Hemlo for up to $1.1 billion. (ayu)
Source: Newsmaker.id
