2026.06.2513:05:44UTC+00Gold Rebounds on Thursday

Gold traded above $4,000 per ounce on Thursday, rebounding from earlier losses as a weaker US dollar and lower Treasury yields lent support following the release of the latest US PCE inflation report, which was broadly in line with expectations. While inflation remains well above the Federal Reserve’s 2% target, the figures helped ease fears of a sharper-than-anticipated acceleration in price pressures.

At the same time, oil prices continued to decline and have now fallen back to levels seen before the outbreak of the conflict involving Iran, further relieving inflation concerns. In response, traders scaled back expectations for additional monetary tightening, with the implied probability of a Fed rate hike in September slipping to 63% from 68% the previous day.

Despite Thursday’s rebound, gold is still down about 5% year-to-date and remains nearly 20% below its January record high, set before the latest escalation of the Iran-related conflict.