#MarketTurbulence
Bitcoin retreats to 118,849$ (-2.2%) after its historic peak yesterday, due to stronger-than-expected U.S. inflation data (PPI), which reduced market expectations for a significant rate cut in September.
Gold prices have risen slightly to now record 3,342.18 dollars per ounce with the dollar's decline, but they are heading for a weekly loss after U.S. Producer Price Index data came in higher than expected, leading to a decrease in bets on a significant rate cut of half a percentage point during next month's Federal Reserve meeting.
Oil prices fell to 63.43 dollars per barrel after sharp gains in the previous session, as the focus remained entirely on how the anticipated meeting between U.S. and Russian leaders will affect global supplies.
Disclaimer: This article is not investment advice or a recommendation, and does not guarantee future performance. The investor is responsible for their investment decisions, and the article does not take into account their personal goals or circumstances.
