AGE Daily Gold Update

AGE Daily Gold Update presents a recap on today's action in the precious metals markets. View archives.

8/12/2025: Gold eases on CPI, tariff truce

Source: Bill Musgrave, American Gold Exchange

Austin — New York spot gold eased 0.1% to close under $3,349 as mixed inflation data and an extension of the US-China tariff truce stoked risk appetite, undercutting safe-haven demand. Silver added 0.6% to finish at $37.90 an ounce.

The Consumer Price Index rose 0.2% in July, in line with most forecasts, to keep the 12-month inflation rate subdued at 2.7%. Cheaper gasoline offset sharply higher costs in airfares and healthcare.

But the core-CPI excluding food and energy, a measure more closely watched by the Fed, came in a little hotter at 0.3%. It is the biggest increase six months, pushing the 12-month rate up to 3.1%.

The mixed inflation data suggests that tariff-related inflation has yet to have a strong impact on the economy. Investors await tomorrow's Producer Price Index for the latest data on wholesale inflation, which should reflect prices in the pipeline to consumers.

Separately, the White House announced that the trade truce with China will be extended for another 90 days, preventing extreme tariffs from taking effect for now. Without the extension, duties on Chinese goods would have jumped from 30% to 145%, while duties on U.S exports to China would have risen from 10% to 135%.

Wall Street cheered the tariff news, with all three major US indexes rallying at least 1%. Benchmark 10-year Treasury yields rose back to 4.3% as investors shifted from haven to risk assets.

Platinum rose 0.9% while palladium fell 2.2%.

At the New York spot close: gold dipped $4.20 to $3,348.90; silver rose 24 cents to $37.90; platinum picked up $11.70 to $1,342.55; and palladium lost $25.30 to $1,131.35 an ounce.