USD strengthens after PCE data boosts Fed rate hike expectations. Gold reaching $4,700 in August at 51.6% YES.

Gold holds near $4,650 per ounce after a 7% five-day rally as traders await the PCE inflation report and Fed Chair Warsh's Jackson Hole speech.

US PCE inflation for July 2026 came in at 3.7%, above expectations. Gold reaching $4,700 in August now at 62.6% YES.