Gold and Crypto Fall as Hot US Inflation Rattles Markets

Another hot US inflation report arrived on Thursday, September 10, and all financial markets took a hit, including Gold, Bitcoin, and the S&P 500. It seems like even traditional safe-haven assets like gold are not acting as an inflation hedge.

The bond market recently delivered a reminder that inflation hedges can struggle when rising prices also mean higher interest rates. Gold’s Inflation Trade Breaks US producer prices rose 0.4% in August, matching forecasts.

The annual rate reached 5.4%, slightly above the 5.3% expected. U.S. 🇺🇸 PPI & JOBLESS CLAIMS:PPI 5.4% YoY, (Est. 5.3%)PPI 0.4% MoM, (Est. 0.4%)Core PPI 4.6% YoY, (Est. 4.6%)Core PPI 0.2% MoM, (Est. 0.3%)Initial Jobless Claims 206K, (Est.

205K)— Wall St Engine (@wallstengine) September 10, 2026 Gold is supposed to benefit when inflation erodes the value of cash. Instead, spot XAU/USD fell more than 1%, dropping toward $4,350 after trading above $4,400. For forex traders, that move hurts.