Economy
GCAP Gold Analyzes Impact of US Inflation Data on Gold Prices
GCAP Gold reports that cooling US inflation data is supporting gold prices, while geopolitical tensions in the Strait of Hormuz remain a key market factor.
According to a report from Khaosod Online Thailand published on August 14, 2026, GCAP Gold has analyzed the impact of recent US economic data on the gold market. Arirat Murachai, head analyst at GCAP Gold, noted that the US Headline CPI decreased from 3.5% to 3.4%, while Core CPI fell from 2.6% to 2.5% in July. These figures align with market expectations, suggesting a slight easing of inflationary pressure, although levels remain above the Federal Reserve's 2% target.
As a result of this data, market sentiment regarding a potential Federal Reserve interest rate hike in September has shifted, with the probability now estimated at approximately 40%. GCAP Gold suggests that this environment provides support for gold prices, which have surpassed the $4,400 mark. However, the firm also highlighted that the ongoing situation in the Strait of Hormuz continues to pose risks to energy prices and global inflation, which remain critical variables for investors.
For residents and travelers in Thailand, these market fluctuations primarily impact the local gold trade and broader economic sentiment. GCAP Gold advises investors to exercise caution, recommending a strategy of buying during price dips rather than purchasing near resistance levels. It remains to be confirmed how the Federal Reserve will ultimately decide on interest rates in September and how geopolitical developments in the Middle East will evolve.