Gold and Silver Climb After CPI but Oil Keeps Fed Risks Alive

Gold and silver prices rose in early US trading Wednesday after July CPI figures matched forecasts, leaving markets uncertain about a possible Fed rate hike in September. Gold stood near 4427.72 dollars an ounce, up 1.36 percent, while silver reached 66.20 dollars, gaining 2.51 percent. Headline CPI advanced 0.1 percent monthly and 3.4 percent yearly, with core measures at 0.2 percent and 2.5 percent. Although the data eased immediate tightening pressure, inflation stays above target and oil prices, supported by the closed Strait of Hormuz, keep the debate active with a roughly 48 percent chance of a September move. The 10-year Treasury yield hovers near 4.7 percent and the dollar softened. Geopolitical tensions sustain Brent near 89 dollars and WTI near 84 dollars, creating mixed signals for metals: safe-haven demand rises yet higher fuel costs limit scope for pricing out further Fed tightening. Gold bulls target resistance at 4430–4492 dollars, while silver eyes upside past 66.495 dollars.