# Gold price holds above $4,400 as US inflation eases

**Published:** 2026-08-13T04:12:32.458Z  
**Topic:** Gold  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/d6df21a5-7740-41e1-aebb-0f93a5fcaea1

Gold stays near $4,400 per ounce on Aug 13, 2026, up 8.6% month‑over‑month and 32% year‑to‑date after US consumer inflation slowed to 3.4% in July.

Gold settled at $4,401.88 per ounce on Monday, keeping the metal above the $4,400 mark and near ten‑week highs as July’s US consumer inflation slowed for a second straight month to 3.4% [2].

| At a glance | |
|---|---|
| Price | $4,401.88/oz |
| Daily change | –0.15% |
| 1‑month gain | +8.57% |
| Year‑over‑year gain | +31.96% |
| Fed hike odds | ~40% for a 25 bp increase in September, down from ~50% a day earlier |

## Inflation data and market sentiment  
The July consumer price index (CPI) rose only 0.1% from June, marking a second month of modest price growth and easing pressure on the Federal Reserve to tighten policy quickly. Analysts responded by trimming the probability of a 25‑basis‑point rate hike at the September meeting to roughly 40%, down from nearly 50% the previous day. The softer inflation reading removed a key headwind for gold, which often benefits from lower real yields and a weaker dollar.

## Commodity dynamics and geopolitical backdrop  
Gold’s resilience also received support from a pullback in oil prices as traders weighed the chances of a diplomatic breakthrough to reopen the Strait of Hormuz. While rhetoric between the United States and Iran remained tense, the reduced likelihood of an imminent agreement kept oil prices in check, indirectly bolstering gold’s appeal as a safe‑haven asset.

## Outlook and price forecasts  
Trading‑Economics’ macro models project gold to close the current quarter near $4,459.91 per ounce and to reach about $4,822.58 in twelve months’ time [2].

## What to watch
- **US CPI release** for August (expected early September) – another deviation from trend could shift Fed rate‑hike expectations.  
- **Fed’s September policy meeting** – the decision on whether to raise rates will influence real yields and gold’s price trajectory.  
- **Oil price movements** – a resurgence in oil due to escalating Middle‑East tensions could again test gold’s safe‑haven status.

Gold’s ability to stay above $4,400 reflects the market’s view that easing inflation and subdued oil volatility reduce the urgency for tighter monetary policy, keeping the metal in favor as investors seek protection against lingering price pressures.

## Sources
1. PYMNTS.com — [Banks Challenge OCC’s Weekly Stablecoin Reporting Burden | PYMNTS.com](https://www.pymnts.com/cryptocurrency/2026/banks-challenge-occ-weekly-stablecoin-reporting-burden/)
2. Tradingeconomics — [Gold - Price - Chart - Historical Data - News](https://tradingeconomics.com/commodity/gold)
3. CNBC — [cnbc.com/futures-and-commodities](https://www.cnbc.com/futures-and-commodities/)
4. Investing — [Gold Futures Price Today - Investing.com](https://www.investing.com/commodities/gold)

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Cite as: TrendWatcher, "Gold price holds above $4,400 as US inflation eases", https://www.trendwatcher.in/article/d6df21a5-7740-41e1-aebb-0f93a5fcaea1