Gold Steadies Above $4,000 to $4,061.70 on Wednesday as U.S. PPI Cools

According to Kitco NewsWire, spot gold steadied near $4,061.70 per ounce on Wednesday (July 16), up 0.25%, as softer-than-expected U.S. PPI data supported prices while Strait of Hormuz tensions kept Treasury yields and crude oil elevated. Spot silver traded near $58.14, down 0.74% on the session. The June PPI final demand fell 0.3%, with goods prices down 1.4%, while headline CPI slowed to 3.5% year-over-year, reducing urgency around a potential July Fed rate hike. However, the 10-year Treasury yield remained near 4.60% and crude oil prices—Brent at $85.78 and WTI at $80.19—stayed firm as Iran threatened to halt regional energy exports if pressure in the strait escalates, keeping the energy-inflation channel alive.
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