US rate cut calls vanish ahead of next week’s FOMC meeting after 4.2% CPI print

The FOMC Decides Gold's Fate Next Week — No Pressure (week ending 6.12.26)

Choppy week for metals — a blowout jobs report sucker-punched gold and silver Monday, then a CPI/PPI double-feature (4.2% and a scorching 6.5%) kept piling on the pain, dragging gold to a six-month low before U.S.-Iran ceasefire vibes triggered its biggest comeback in months… only for Friday's oil crash to steal some of that thunder back. Next week, it's all about Wednesday's FOMC meeting — retail sales and housing data are just the opening act,…

US rate cut calls vanish ahead of next week’s FOMC meeting after 4.2% CPI print

US consumer price inflation hit 4.2% in May, its fastest annual pace since April 2023, and the sell-side response has been swift: rate cut forecasts for 2026 are being abandoned across the Street ahead of next week’s FOMC meeting on 16–17 June. Wednesday’s CPI report from the Bureau of Labor Statistics was a split-screen affair. Headline prices rose 0.5% on the month, in line with expectations, driven overwhelmingly by energy — the energy index …