Gold Futures Rise 1.48% to $4,064.90/oz on July 14 as U.S. CPI Falls Sharply

According to CME on July 14 at 2:33 p.m. ET, August gold futures rose 1.48% to $4,064.90 per troy ounce as U.S. June consumer prices fell 0.4% month-over-month, exceeding market expectations of a 0.1% decline.

The sharper-than-expected CPI decline weakened Fed rate hike bets, with futures markets pricing in only 16.6% probability of a July rate increase, down from 41.7% the previous day, and a 19.5% chance of rates remaining flat through December 2026 versus 10.7% prior.