Gold price topped $4 500 per ounce in New York, according to Mining.com. The increase was observed while United States inflation remained tame. Tame inflation contributed to a cooling of bets on additional Federal Reserve rate hikes. In the same report, traders were noted to keep a 40 % probability for a Fed hike scheduled for September. The price level broke through the $4 500 barrier during trading sessions in New York. This movement was recorded amid broader market monitoring of US macroeconomic data.
Saxo Bank commented that the real test for bullion now lies at the 200‑day moving average, which sits just below $4 500. The bank highlighted that holding above this technical level would be crucial for sustaining current price gains. Mining.com cited Saxo Bank’s assessment as part of its coverage of gold market dynamics. The combination of tame inflation, reduced Fed hike expectations, and the proximity to the 200‑day moving average formed the key factual backdrop of the price action.