Gold edged higher after in-line US inflation data while Bitcoin stayed flat

Inflation Comes in as Expected

US inflation data for July landed in line with forecasts on Wednesday, offering markets little in the way of surprise. The Consumer Price Index for All Urban Consumers rose 0.1% on a seasonally adjusted basis in July, with the all-items index up 3.4% over the last 12 months, the Bureau of Labor Statistics reported. The annual rate slowed for a second consecutive month, down from 3.5% in June. Stripping out food and energy, the core index rose 0.2% for the month and 2.5% over the year.

All readings were in line with Dow Jones consensus forecasts, and the tame monthly figures, coupled with similarly moderate levels in June, indicate that the energy-fueled burst earlier in the year is easing, though prices remain volatile and subject to changing conditions. The Federal Open Market Committee does not meet again until September, giving policymakers an additional month of data to digest before their next rate decision.

Gold Climbs, Bitcoin Holds Steady

Gold was the clearer beneficiary of the benign print. The metal added 0.60% to $4,407.54 an ounce on the day, with silver rising 0.77% in tandem. Earlier in the session, gold was valued at $4,419.63 per ounce, a gain of more than $1,070 over the past year. Lower rate expectations reduce the opportunity cost of holding gold, which pays no interest, while persistent inflation concerns, central-bank buying, and geopolitical tension have added to safe-haven demand.

$BTC told a different story. Bitcoin traded at $63,479, down 0.21% on the day, even as 24-hour volume climbed 9.52% to $22.41 billion. Gold has gained 7.84% over the past 30 days and sits 13.10% below its level from six months ago, underlining the divergence between the two assets this year. Bitcoin has behaved more like a risk asset than a safe haven in recent months, remaining stuck in a narrow trading range of roughly $60,000 to $65,000 while gold has rallied on geopolitical tensions and inflation concerns. A softer inflation reading could reduce pressure on the Fed to raise interest rates, a potentially supportive backdrop for risk assets such as Bitcoin going forward.

Sources:
US Bureau of Labor Statistics: Consumer Price Index Summary, July 2026
CNBC: CPI Inflation Report July 2026
Fortune: Current Price of Gold, August 12, 2026