Gold is starting to move on something a lot bigger than inflation Opinion: Gold is starting to move on something a lot bigger than inflation The most important signal for gold will come from the Treasury market, which will reflect investors’ belief in the Fed’s resolve to fight inflation Gold is weighing the Federal Reserve’s credibility against the traditional price driver of inflation and interest rates. /iStockphoto Gold should have had a difficult day when inflation data was released last week, but it didn’t. And that sent a clear message. The U.S. consumer-price-index report for August showed a 0.4% rise.
Annual inflation remained at 3.4%, data out Friday showed. Core prices, which exclude food and energy prices, increased 0.3% on the month, slightly more than expected. Traders responded by sharply increasing the probability that the Federal Reserve will raise interest rates at its Sept. 15-16 meeting, with market-implied chances moving above 80%.
Copyright ©2026 MarketWatch, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 She’s covered personal finance for 40 years — and says this is the ‘most outdated’ notion about retirement ‘There might be a silver lining’: My friend’s wife died at 60 after a high-earning career. Can he claim her Social Security? 90% of retirees are making this miscalculation with their savings I retired last year with $3.4M after 31 years in law enforcement.
I’ll get $8.4K a month in income. What are my next moves for retirement? Naeem Aslam is chief investment officer at Zaye Capital Markets in London.
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