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Daily brief · Wednesday, August 12, 2026

Gold and silver rise as cooler CPI trims rate-hike bets; some Fed officials stay hawkish

Gold and silver finished higher after U.S. inflation data dampened expectations for another near-term rate hike, helping yields and the dollar ease. Several reports also flagged lingering Fed risk from higher oil prices and hawkish commentary about the possibility of a September increase.

AI summaryWritten automatically with AI from 24 linked reports and our own price data, Oct 21, 2:56 AM ET. Each point links to its sources. Published without an editor’s review; not investment advice. How this page is made

Closing prices for August 12, 2026

Gold $4,426.65 +0.99% 30d +9.6% Silver $66.25 +1.63% 30d +13.5% Platinum $1,775.80 +0.99% 30d +9.2% Palladium $1,384.25 +0.85% 30d +8.8%

Tone of the reports: Mixed

What happened

  1. Reuters reported gold climbed to a more than two-month peak after U.S. inflation data dampened rate-hike bets.

    SourcesReuters: Gold rises to over two-month peak as US inflation data dampens rate hike bets

  2. Kitco said the CPI release trimmed yields and lowered the odds of a Fed hike, helping gold test two-month highs.

    SourcesKitco News: Gold prices test two-month highs as CPI trims yields, Fed hike odds - Kitco PM Report2: Gold, silver rally as CPI cools but oil keeps Fed risk alive - Kitco AM Report

  3. Reuters reported the dollar slipped after in-line CPI tempered expectations for higher rates, a typical support for metals priced in dollars.

    SourcesReuters: Dollar slips as in-line CPI tempers rate-hike bets

  4. Reuters reported Boston Fed President Collins was open to an interest-rate increase in September, adding a note of caution after the CPI-driven rally.

    SourcesReuters: Boston Fed's Collins open to interest rate increase in September, FT says

  5. Reuters reported the Fed is still seen holding policy rates for now as inflation eases again.

    SourcesReuters: Fed seen sticking to policy-rate hold, for now, as inflation eases again

  6. Separate reports pointed to physical-market and official-sector demand themes: China bought the most gold since 2023 in July, and JP Morgan and Citi reportedly took physical silver delivery from Deutsche Bank.

    SourcesEarlier news service: CHINA Bought the Most Gold Since 2023 in July. Here’s Why.2: JP MORGAN & CITI TAKE PHYSICAL SILVER DELIVERY FROM DEUTSCHE BANK

Bull vs bear

The arguments the day’s reports made for each direction. We list them side by side; we don’t pick one.

The case for higher prices

The case for lower prices

What to watch

  • SeptemberPossible Fed rate hike talkReuters noted a senior Fed official was open to a September increase, keeping rate risk on the radar for metals even after the CPI-driven move.
  • UpcomingFranco-Nevada earningsInvesting.com said the report will test the royalty model amid gold-price volatility, which could shape sentiment across the gold-mining complex.

Metal by metal

Gold $4,426.65 +0.99%

Reuters tied gold’s move to softer U.S. inflation reducing rate-hike expectations, while Kitco emphasized CPI-driven declines in yields and Fed-hike odds. Some coverage also highlighted cross-currents from oil prices and hawkish Fed commentary, which kept policy risk in focus.

Gold headlines

Silver $66.25 +1.63%

Kitco said silver rallied alongside gold after cooler CPI eased rate fears, while noting oil prices kept Fed risk alive. A separate report said JP Morgan and Citi reportedly took physical silver delivery from Deutsche Bank.

Silver headlines

Platinum $1,775.80 +0.99%

No report focused on platinum.

Platinum headlines

Palladium $1,384.25 +0.85%

No report focused on palladium.

Palladium headlines

The day’s reports

29 reports, most important first, New York time.

  1. 11:59 PM Reuters · 11:59 PM▼ Reports a fall Gold off two-month peak as traders seek inflation cues | Reuters Reuters says gold slipped from a more than two-month high as traders looked for fresh inflation cues.
  2. 8:00 PM Earlier news service · 8:00 PM JP MORGAN & CITI TAKE PHYSICAL SILVER DELIVERY FROM DEUTSCHE BANK JP Morgan and Citi reportedly took physical silver delivery from Deutsche Bank.
  3. 8:00 PM Earlier news service · 8:00 PM VENEZUELA looks to UK-held gold reserves for reconstruction as inflation surges Venezuela is looking to UK-held gold reserves for reconstruction as inflation surges.
  4. 8:00 PM Earlier news service · 8:00 PM▲ Reports a rise GOLD pauses after tame US inflation fuels rally to over two-month peak Gold pauses after tame U.S. inflation fueled a rally to a more than two-month high.
  5. 8:00 PM Earlier news service · 8:00 PM CHINA Bought the Most Gold Since 2023 in July. Here’s Why. China bought the most gold since 2023 in July, according to the report.
  6. 5:10 PM Kitco News · 5:10 PM▲ Reports a rise Gold prices test two-month highs as CPI trims yields, Fed hike odds - Kitco PM Report Gold prices test two-month highs as CPI trims yields and lowers the odds of a Fed hike.
  7. 3:21 PM Reuters · 3:21 PM▲ Reports a rise Gold rises to over two-month peak as US inflation data dampens rate hike bets Gold rises to a more than two-month peak after U.S. inflation data dampened rate-hike bets.
  8. 11:33 AM Reuters · 11:33 AM Fed seen sticking to policy-rate hold, for now, as inflation eases again Reuters says the Fed is still expected to hold policy rates as inflation eases again.
  9. 8:59 AM Kitco News · 8:59 AM▲ Reports a rise Gold, silver rally as CPI cools but oil keeps Fed risk alive - Kitco AM Report Gold and silver rallied as cooler CPI eased rate fears, though oil kept Fed risks in focus.
  10. 8:30 AM Kitco News · 8:30 AM▲ Reports a rise Spot gold spikes above $4,438/oz as annual core CPI rises 2.5% in July Spot gold spiked above $4,438 an ounce as July core CPI rose 2.5% year over year.
  11. 8:18 AM Reuters · 8:18 AM Boston Fed's Collins open to interest rate increase in September, FT says Boston Fed President Collins was open to a September rate increase, the FT said.
  12. 8:00 PM Earlier news service · 8:00 PM CITI : Silver could surge to $90 as investment demand takes over Citi says silver could surge to $90 as investment demand takes over.
  13. 8:00 PM Earlier news service · 8:00 PM INDIA : Only 2% of India’s gold imports routed through exchanges; SEBI ED flags .. India's gold imports are mostly bypassing exchanges, with SEBI and ED flagging the issue.
  14. 8:00 PM Earlier news service · 8:00 PM UBS sees lower real rates reviving gold demand, flags dips as buying chances UBS says lower real rates could revive gold demand and that dips may be buying chances.
  15. 8:00 PM Earlier news service · 8:00 PM▲ Reports a rise ANZ : Gold rallies as prospect of rate hikes diminshes ANZ says gold is rallying as the prospect of rate hikes diminishes.
  16. 8:00 PM Earlier news service · 8:00 PM▼ Reports a fall GOLD slips from over two-month peak as investors cash in on rally Gold slips from a more than two-month peak as investors take profits after the rally.
  17. 11:52 AM Kitco News · 11:52 AM Fed is still ‘inflation-first’ after cooler CPI, but weak jobs report means it’s no longer ‘inflation-only’ – Natixis Natixis says the Fed remains inflation-focused after cooler CPI, but weak jobs data makes it less exclusively focused on inflation.
  18. 10:11 AM Reuters · 10:11 AM▲ Reports a rise Dollar slips as in-line CPI tempers rate-hike bets The dollar slipped after in-line CPI reduced expectations for higher rates.
  19. 9:56 AM Reuters · 9:56 AM Traders stick to narrow bets on September Fed hold after inflation data Traders kept narrow bets on a September Fed hold after inflation data.
  20. 8:00 PM Earlier news service · 8:00 PM WEALTH MANAGERS Remain Upbeat On Gold Wealth managers remain upbeat on gold.
  21. 8:00 PM Earlier news service · 8:00 PM ROSS NORMAN – London - Total Eclipse of the Gold Ross Norman comments on London's gold market in a piece titled 'Total Eclipse of the Gold'.
  22. 8:00 PM Earlier news service · 8:00 PM JUPITER’s Naylor-Leyland: ‘Precious metal speculators got it wrong all at once’ Jupiter's Naylor-Leyland says precious metal speculators got it wrong all at once.
  23. 8:00 PM Earlier news service · 8:00 PM LBMA snapshot survey predicts gold price average near $4,500/oz by year-end An LBMA snapshot survey expects gold to average near $4,500 an ounce by year-end.
  24. 8:00 PM Earlier news service · 8:00 PM FIDELITY : Why has my silver ETF been so disappointing? Fidelity asks why its silver ETF has been so disappointing.
  25. 8:00 PM Earlier news service · 8:00 PM STONEX : Precious metals come to life, for differing reasons StoneX says precious metals are coming to life for different reasons.
  26. 8:00 PM Earlier news service · 8:00 PM SANTIAGO CAPITAL : The Dollar Doesn't Need to Die for Gold to Win Santiago Capital argues the dollar does not need to fall for gold to rise.
  27. 11:07 AM Reuters · 11:07 AM Sweden gives go-ahead to Boliden copper mine project Sweden approved Boliden's copper mine project.
  28. 11:01 AM Reuters · 11:01 AM Freeport Indonesia’s unit Smelting Gresik halts operations for furnace repairs, company says Freeport Indonesia's Smelting Gresik unit halted operations for furnace repairs.
  29. 8:26 AM Reuters · 8:26 AM▼ Reports a fall Dollar ticks up on Iran tension, with US data in focus The dollar ticked up on Iran tensions as markets awaited U.S. data.

How this page is made

Collected every hour. Summed up twice a day. Linked to the source.

Where the news comes from

  • Reuters and Dow Jones headlines for gold, silver, platinum and palladium, through TradingView
  • Kitco News and MetalsDaily
  • The World Gold Council
  • Google News, for wider coverage
  • A daily AI web search for anything the feeds missed

How the briefs are written

Every hour we collect new headlines. An AI model from OpenAI tags each one by metal, topic and importance and writes a one-line summary from its headline and teaser. It doesn’t read paywalled articles. On weekdays at about 8 AM and after the 5 PM New York close, it writes a brief from the most important reports and our own spot price feed. Every point cites the reports it came from. On Fridays it writes a recap of the week.

Who publishes it

Bullion Trading LLC is a physical precious metals dealer in New York’s Diamond District, in business since 2008. Prices on this page come from our own live feed and LBMA history. We buy and sell bullion, so read the briefs as market context, not investment advice. Briefs are published automatically, without an editor’s review. If you spot an error, tell us.

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