GOLD PRICE TODAY, AUGUST 12: BULLION NEARS $4,400 AS DOLLAR WEAKENS; US CPI, PPI DATA IN FOCUS
Gold Prices Today, August 12: Gold prices edged higher on Wednesday, August 12, supported by weakness in the US dollar, while investors remained cautious ahead of key US inflation data due later today and on Thursday.
As of 6:05 am, spot gold was up 0.3 per cent, or USD 13, at USD 4,381.60 per ounce. The precious metal has remained elevated for the second consecutive session, hovering around the USD 4,300-mark.
Meanwhile, spot silver gained 0.5 per cent, or USD 0.30, to trade around USD 65 per ounce.
Gold Price Today in India
On the domestic front, gold and silver futures were not trading at the time of writing. On Tuesday, gold futures settled at Rs 1,53,639 per 10 grams, while silver futures settled at Rs 2,35,250 per kg.US Dollar Supports Gold Prices
The weakness in the US dollar provided support to bullion prices. The US Dollar Index, which measures the greenback against a basket of six major currencies, was trading at 99.81.A weaker US dollar generally supports gold prices as it makes the dollar-denominated metal cheaper for holders of other currencies, potentially boosting demand. Gold also tends to benefit from its appeal as a store of value during periods of economic and market uncertainty.
US CPI, PPI Data in Focus
The key market trigger this week will be US inflation data. Investors are awaiting the Consumer Price Index (CPI) report due later on Wednesday, followed by the Producer Price Index (PPI) data on Thursday.The inflation readings could influence expectations around the US Federal Reserve's interest-rate trajectory. Higher-than-expected inflation could support gold's appeal as a hedge against rising prices, although stronger inflation could also keep interest rates elevated for longer, potentially limiting gains in the non-yielding asset.
Crude Oil Prices Cap Gold's Upside
Rising crude oil prices also kept a lid on gains in bullion. Brent crude futures rose 0.6 per cent to near USD 90 a barrel, while WTI futures gained 0.7 per cent to around USD 83.80 per barrel.Higher oil prices can add to inflationary pressures and may strengthen expectations of tighter monetary policy, which can weigh on gold by increasing the opportunity cost of holding a non-yielding asset.
The rise in crude prices came amid heightened geopolitical tensions. US forces reportedly disabled a Panama-flagged cargo ship attempting to sail towards an Iranian port after it ignored warnings, firing two Hellfire missiles at its steering gear. Iran has demanded an end to the US war and blockade, the release of frozen assets and a regional ceasefire before reopening the Strait of Hormuz.
Also Read: Stocks to Watch Today, August 12: Delta Corp, Senco Gold, NBCC, Vodafone Idea, TCS and others
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
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2026-08-12T02:39:09Z
