Finance

The Federal Reserve's preferred measure of inflation, the Personal Consumption Expenditures price index, came in slightly hotter than anticipated, keeping core year-over-year inflation stuck at 3.3%. The data has amplified internal central bank divisions regarding whether to implement an interest rate hike in September. Market participants are now hyper-focused on the upcoming Jackson Hole economic symposium, where newly appointed Chair Kevin Warsh is scheduled to deliver a highly anticipated keynote address.

Bitcoin momentarily crossed the $80,000 threshold before stabilizing near $79,500, marking a substantial recovery phase after hitting multi-month lows earlier in the summer. This upward momentum has been heavily supported by institutional interest, with spot Bitcoin exchange-traded funds recording their strongest month of inflows for 2026. However, technical indicators suggest the asset is currently in overbought territory, prompting some caution regarding short-term profit-taking.

Gold futures hovered near $4,650 per ounce, holding on to double-digit monthly gains but pulling back slightly following the latest economic data. The precious metal has experienced a strong run throughout August, fueled by a weakening U.S. dollar, rising sovereign debt concerns, and a global pivot toward hard assets. Despite a minor technical pullback, bullion remains positioned to benefit from institutional buying and ongoing anxieties regarding long-term fiscal deficits.