Gold futures opened at $4,468.80 per troy ounce on Thursday, holding above $4,400 for a fourth straight session before slipping to $4,441.10 in early trading. The metal is up 9.5% over the past month as traders scale back bets on a Federal Reserve rate hike in September, with Thursday's Producer Price Index report set to sharpen the picture.
Gold's December futures opened at $4,468.80 per troy ounce on Thursday, August 13, 2026, flat against Wednesday's close. The price then slipped, trading at $4,441.10 as of 7:53 a.m. ET.
Rate-hike bets keep fading
Gold has now opened above $4,400 for the fourth straight day as expectations for a Fed rate hike in September appear to be dissipating. Today's Producer Price Index report will give markets another signal on the Fed's approach to next month's meeting.
According to Yahoo Finance Fed Correspondent Jennifer Schonberger, cooling inflation data bolsters the case for the Federal Reserve to wait: "It's hard to see them hiking in September" after two back-to-back months of cooling inflation. She added that today's PPI report, together with July's employment and CPI reports, will help paint a clearer picture for September. Question marks remain over what happens next based on incoming PCE data, Schonberger said, but the current data makes a hike unlikely for now.
Gold's monthly and yearly gains
Gold is up 4% over the past week, 9.5% over the past month, and 33% over the past year, based on Thursday's opening price versus prior periods. For context, the metal's year-over-year growth was 95.6% on Jan. 29.
As of 8:53:29 a.m. ET, gold traded at $4,451.30, down $16.20, or 0.36%, on the day.
Source: Yahoo Personal Finance
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