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At the latest reading on April 14, 2026 around 06:00 PM (IST) :

• COMEX Gold climbed to 4,104.80 US dollars per ounce, gaining 99.10 US dollars (+2.47%).
• COMEX Silver advanced to 59.84 US dollars per ounce, rising 1.868 US dollars (+3.22%).

The rally followed the release of June’s Consumer Price Index (CPI), which pointed to easing inflation after months of elevated price pressures.

MCX Prices also Surged:

• MCX Gold climbed to 1,42,639 Rupees per 10 grams, gaining 2,330 Rupees (+1.66%).
• MCX Silver climbed to 2,24,310.00 Rupees per kilogram, rising 6,600.00 Rupees (+3.03%).

US Inflation Cools Significantly in June

According to the US Bureau of Labor Statistics, overall consumer prices increased 3.5% year-over-year in June, easing from 4.2% in May, which had marked the highest inflation reading in three years.

On a monthly basis, the Consumer Price Index (CPI-U) declined 0.4%, following a 0.5% increase in May. This represented the largest one-month decline since April 2020, when prices fell 0.8%.

The moderation in inflation offered relief after several months of elevated prices driven largely by energy costs and geopolitical tensions.

Core Inflation Also Moderates

The closely watched core CPI, which excludes food and energy prices, rose 2.6% from a year earlier, compared with 2.9% in May.

Month-on-month, core inflation remained unchanged.

Several categories including motor vehicle insurance, communication services, apparel, medical care, and used vehicles recorded price declines during June. Meanwhile, recreation, household furnishings and personal care continued to register modest increases.

Energy Prices Drive the Improvement

The largest contributor to the monthly decline came from the energy sector.

The energy index fell 5.7% in June, reversing strong gains recorded during previous months.

Lower fuel prices helped ease overall inflation after the spring surge triggered by the US-Israeli military strikes on Iran and the subsequent near-complete closure of the Strait of Hormuz, which had pushed oil prices sharply higher.

Retail gasoline prices, which had climbed above 4.50 US dollars per gallon nationally during May, have since fallen below 4 US dollars, contributing to softer inflation across several energy-related sectors, including transportation and airfares.

Meanwhile, the food index increased 0.2% during June, while annual food inflation stood at 3.0%.

Despite the monthly decline, the energy index remained 15.7% higher than a year earlier.

Federal Reserve Chair Kevin Warsh Reaffirms Inflation Commitment

During his first monetary policy testimony before Congress since becoming Federal Reserve Chair, Kevin Warsh emphasized that restoring price stability remains the central bank’s highest priority.

Warsh stated that the Federal Reserve’s primary objective is to ensure monetary policy remains appropriately calibrated to bring inflation under control.

He acknowledged that elevated inflation over recent years has imposed significant costs on American households and businesses, with rising energy prices contributing to the latest inflationary pressures.

While noting that monthly inflation readings can fluctuate due to global developments, Warsh stressed that longer-term inflation is ultimately determined by monetary policy.

He reiterated that Federal Reserve policymakers remain fully committed to returning inflation toward the central bank’s 2% target.

US Economy Remains Resilient

Warsh also described the US economy as continuing to expand at a solid pace despite recent global uncertainties.

He highlighted business investment as one of the strongest aspects of current economic activity, pointing particularly to accelerating spending on artificial intelligence infrastructure, including new data centers, AI equipment and software.

According to Warsh, although the long-term economic benefits of AI investment remain uncertain, artificial intelligence is increasingly becoming part of mainstream business investment rather than a separate growth theme.

He has previously argued that stronger productivity driven by AI could eventually help reduce inflationary pressures over time.

Federal Reserve Launches Internal Review

Warsh also outlined a comprehensive review of Federal Reserve operations through five newly established task forces.

The review will examine:

• Federal Reserve communications
• Technology systems
• Balance sheet management
• Economic data used in policymaking
• Inflation measurement and analysis

He described the initiative as the beginning of a “new chapter” for the Federal Reserve while expressing appreciation for the institution’s staff and policymakers.

Market Focus Shifts to Future Fed Decisions

With inflation showing signs of moderation but remaining above the Federal Reserve’s long-term target, investors are expected to closely monitor upcoming economic reports and future comments from Fed officials for additional guidance on the path of interest rates.

The combination of cooling inflation, resilient economic growth and continued investment in AI is expected to remain central themes for financial markets in the coming months.

Frequently Asked Questions (FAQs)

1. Why did COMEX gold and silver prices rise sharply?

Gold and silver rallied after US inflation slowed more than expected in June, boosting investor confidence and shifting attention toward future Federal Reserve policy decisions. Lower inflation reduced immediate concerns over persistent price pressures.

2. What did the latest US CPI report show?

The Consumer Price Index rose 3.5% year-over-year in June, down from 4.2% in May. Monthly CPI declined 0.4%, marking the largest one-month drop since April 2020, while core inflation eased to 2.6%.

3. What role did energy prices play in the inflation decline?

Energy prices fell 5.7% during June as gasoline prices declined following the easing of oil market disruptions linked to Middle East tensions. Lower energy costs were the biggest factor behind the overall decline in inflation.

4. What did Federal Reserve Chair Kevin Warsh say about inflation?

Warsh said the Federal Reserve remains fully committed to restoring price stability and has no tolerance for persistently high inflation. He emphasized that monetary policy will continue to focus on bringing inflation back toward the 2% target.

5. What are investors watching next after the inflation report?

Markets will closely monitor upcoming economic data, future Federal Reserve communications and interest rate expectations to assess whether cooling inflation could influence the central bank’s policy path in the months ahead.

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