{"id":128932,"date":"2026-06-26T14:40:58","date_gmt":"2026-06-26T10:40:58","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=128932"},"modified":"2026-06-26T14:41:01","modified_gmt":"2026-06-26T10:41:01","slug":"gold-steadies-after-three-straight-weekly-losses-pce-above-4-and-63-september-hike-odds-keep-bullion-under-siege","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/gold-steadies-after-three-straight-weekly-losses-pce-above-4-and-63-september-hike-odds-keep-bullion-under-siege\/06\/26\/market-updates\/","title":{"rendered":"Gold Steadies After Three Straight Weekly Losses: PCE Above 4% and 63% September Hike Odds Keep Bullion Under Siege"},"content":{"rendered":"\n<h1 class=\"wp-block-heading\"><\/h1>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Key Takeaways<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Gold finds tentative footing:<\/strong> Spot gold ticked up 0.3% to $4,036.88 per ounce, while gold futures added 0.1% to $4,051.30.<\/li>\n\n\n\n<li><strong>Third straight weekly loss:<\/strong> Bullion on track for a nearly 3% weekly decline and has shed roughly 11% this month.<\/li>\n\n\n\n<li><strong>Dollar near 13-month high:<\/strong> The greenback is heading for a second straight weekly gain, making gold more expensive for overseas buyers.<\/li>\n\n\n\n<li><strong>PCE above 4%:<\/strong> Thursday&#8217;s data showed the Fed&#8217;s preferred inflation gauge rose 4.1% year-on-year in May \u2014 the highest in more than three years and the first above 4% since 2023.<\/li>\n\n\n\n<li><strong>September hike at 63%:<\/strong> CME FedWatch shows markets pricing a near two-in-three chance of Fed tightening by September.<\/li>\n\n\n\n<li><strong>Hormuz attack provides brief relief:<\/strong> A cargo vessel attack near the strait briefly revived safe-haven demand \u2014 but was insufficient to offset dollar and rate headwinds.<\/li>\n\n\n\n<li><strong>Lingering geopolitical risks:<\/strong> Despite the preliminary U.S.-Iran peace deal, Thursday&#8217;s incident underscores that security in the region remains fragile.<\/li>\n\n\n\n<li><strong>Silver heads for 12% weekly crash:<\/strong> Spot silver edged up just 0.1% to $57.96 \u2014 a devastating week for the metal.<\/li>\n\n\n\n<li><strong>Platinum extends losing streak:<\/strong> Rose 1% to $1,618.23 but is on track for its seventh consecutive weekly decline.<\/li>\n\n\n\n<li><strong>Copper weakens:<\/strong> LME copper fell 0.4% to $13,249.33 per ton; U.S. copper futures slid 0.2%.<\/li>\n<\/ul>\n\n\n\n<p>Gold prices steadied on Friday after three consecutive weekly declines driven by a resurgent U.S. dollar and growing expectations of Federal Reserve interest-rate hikes this year.<\/p>\n\n\n\n<p>Spot gold ticked up 0.3% to $4,036.88 an ounce by 05:18 ET (09:18 GMT), while U.S. gold futures added 0.1% to $4,051.30.<\/p>\n\n\n\n<p>Bullion was on track for a nearly 3% weekly loss and has declined roughly 11% this month.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Dollar and Rate Hike Fears Dominate<\/h2>\n\n\n\n<p>The U.S. dollar remained steady near a 13-month high and was headed for a second straight weekly gain \u2014 making gold more expensive for holders of other currencies.<\/p>\n\n\n\n<p>The greenback has been supported by rising expectations that the Fed may need to tighten policy further as inflation remains elevated.<\/p>\n\n\n\n<p>Data released on Thursday showed the U.S. personal consumption expenditures (PCE) price index \u2014 the Fed&#8217;s preferred inflation gauge \u2014 rose 4.1% in May from a year earlier. That marked the highest reading in more than three years and the first above 4% since 2023.<\/p>\n\n\n\n<p>Markets currently see a 63% chance of a Fed rate increase by September, according to the CME FedWatch tool.<\/p>\n\n\n\n<p>Higher interest rates typically reduce the appeal of bullion because it offers no yield.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Hormuz Attack Offers Brief Safe-Haven Reprieve<\/h2>\n\n\n\n<p>Limiting losses, investors continued to monitor developments in the Middle East after a cargo vessel reported an attack near the Strait of Hormuz \u2014 highlighting lingering geopolitical risks despite the preliminary U.S.-Iran peace agreement.<\/p>\n\n\n\n<p>The incident briefly revived safe-haven demand for gold but was insufficient to offset pressure from the stronger dollar and higher rate expectations.<\/p>\n\n\n\n<p>Among other precious metals, silver prices edged up 0.1% to $57.96 per ounce \u2014 heading for a devastating 12% weekly drop.<\/p>\n\n\n\n<p>Platinum rose 1% to $1,618.23 per ounce but was on track for its seventh straight weekly loss.<\/p>\n\n\n\n<p>Benchmark copper futures on the London Metal Exchange fell 0.4% to $13,249.33 a ton, while U.S. copper futures also slid 0.2% to $6.06 a pound.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Gold finds tentative footing: Spot gold ticked up 0.3% to $4,036.88 per ounce, while gold futures added 0.1% to $4,051.30. Third straight weekly loss: Bullion on track for a nearly 3% weekly decline and has shed roughly 11% this month. Dollar near 13-month high: The greenback is heading for a second straight weekly &hellip;<\/p>\n","protected":false},"author":9,"featured_media":110167,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,6827,49,36],"tags":[],"class_list":["post-128932","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-daily-economic-reports","category-economic-reports","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/128932","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=128932"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/128932\/revisions"}],"predecessor-version":[{"id":128933,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/128932\/revisions\/128933"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/110167"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=128932"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=128932"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=128932"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}