FX.co ★ Gold Swing Around $3350

Gold prices remained stable at approximately $3,350 per ounce on Thursday, as traders assessed the balance between monetary policies, economic prospects, and ongoing geopolitical tensions. In July, US producer prices recorded their most significant increase in three years, surpassing predictions and indicating that companies are raising prices in response to higher import costs due to tariffs. This unexpectedly strong data prompted investors to slightly lower their expectations for an interest rate cut by the Federal Reserve in September; the likelihood of such a cut decreased to 90% from a full anticipation the previous day. Concurrently, US President Donald Trump cautioned that there would be "severe consequences" should Russian President Vladimir Putin not agree to pursue peace in Ukraine. However, Trump suggested that a subsequent meeting, including Ukraine's leadership, could occur promptly. The US and Russian presidents are scheduled to convene in Alaska tomorrow to explore resolutions to the conflict.