TechFlow, Sept. 1 — According to Jinshi Data, gold prices rose to a four-month high on Monday as market expectations for a Fed rate cut this month intensified, boosting gold's appeal. Prices briefly touched USD 3,470 per ounce, up about 0.4% on the day.
Data showed that U.S. consumer spending grew solidly in July, while underlying inflation rebounded due to import tariffs pushing up prices of certain goods. However, these figures may not prevent the Fed from cutting rates this month.
In addition, U.S. PCE data increased 0.2% month-on-month and 2.6% year-on-year, both in line with expectations. According to CME FedWatch, traders currently see an 87% probability of a 25-basis-point rate cut by the Fed later this month.
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