Gold Hit a Two-Month High. Then It Pulled Back. The PPI Data That Caused Both Moves Is What Matters.

Gold hit a two-month high on Wednesday, then gave back ground Thursday as energy costs complicated an otherwise clean inflation signal. PPI came in flat. September Fed hike odds fell to 40%. ETF money is returning. Citi put a $90 target on silver. Here are the five developments shaping precious metals right now.

Two Inflation Numbers Come Out Every Month. The Fed Only Cares About One.

The Fed releases two inflation numbers every month — headline CPI and core CPI. They tell very different stories, and the Fed only acts on one of them. Here is what each measure captures, why the Fed leans on core PCE to set interest rates, and why that gap between what you pay and what the Fed watches matters for gold investors.

Trump Just Said the US Is Only ‘Semi-Negotiating’ With Iran. That One Word Changes Everything for Gold.

Trump told Axios the US is only “semi-negotiating” with Iran — comfortable letting Tehran’s collapsing economy do the work. Here is what that shift in strategy actually means for gold prices, and why the Hormuz stalemate is starting to look less like a temporary spike and more like a structural floor.

Gold Had Its Best Week Since January. Wednesday’s CPI Could Take It Back.

Gold pulled back Monday after its best weekly gain since January. Here is the exact mechanism behind last week’s 7% move, why Wednesday’s CPI print is the deciding factor for the September Fed decision, and what Iran’s refusal to reopen the Strait of Hormuz means for the inflation picture.

Gold Just Climbed to a 7-Week High. One Number Changed Everything.

The Fed spent six months focused on one problem: inflation. July’s jobs report just gave it a second one — and gold climbed to a 7-week high as a direct result.

Manufacturing Hit a Four-Year High Today. Gold Didn’t Move. Here’s Why That’s the Story.

The ISM Manufacturing PMI just hit 55.6% — its strongest reading since May 2022. Gold barely moved. That non-reaction isn’t a failure to respond. It’s gold caught between two opposing forces that are almost perfectly canceling each other out, and this week’s data decides which one breaks first.

The Federal Reserve Has Eroded 97% of Your Dollar’s Value Since 1913. Here’s the Mechanism.

The Federal Reserve is the most powerful institution affecting what your money is worth — yet most people can’t fully explain how it works. This guide covers the Fed’s structure, dual mandate, and policy tools, and explains exactly why its 112-year track record of dollar debasement is the foundational case for owning gold.

Warsh Said the PCE Drop Was “Not Much” of a Consideration. Gold Agreed.

June PCE fell to 3.7% — the number gold investors spent the week watching. Gold opened $34 higher anyway. Fed Chair Warsh said the cooler reading was “not much” of a consideration. Here is the mechanism behind the move, and the GDP number nobody was talking about.

Gold at $4,100. Silver Still Stuck Below $60. Five Signals Define the Next Six Weeks.

The Fed held rates for the fifth straight meeting. PCE cooled. Gold crossed $4,100. Silver still can’t break $60. Here are five signals defining the next six weeks before Jackson Hole.

Gold Is Up $40. Here Is What the 9-3 Fed Vote Actually Means.

The Federal Reserve voted 9-3 to hold rates on July 29 — the most divided FOMC decision since September 2016. Three regional bank presidents dissented in favor of an immediate hike. Gold is up more than $40. Here is exactly why the vote count matters more than the headline decision, and what it means for gold and silver heading into September.