Polish markets see gold dip below $4600 and euro/PLN rise above 4.30

Gold prices fell to around $4,575 per ounce, slipping below the $4,600 technical level. The drop was linked to a stronger U.S. dollar after the release of higher‑than‑expected U.S. producer‑price and consumer‑price data and the nomination of Kevin Warsh to chair the Federal Reserve. Analyst Michał Tekliński warned that the move reflects a short‑term correction and a broader stagflation risk for precious metals.

In the foreign‑exchange market, the euro crossed the 4.30 level against the Polish złoty, while the dollar rose to 3.74 złoty. Analysts noted that the probability of a September rate hike in the U.S. has fallen, boosting risk‑on assets such as semiconductor stocks and the Korean KOSPI. Oil prices corrected amid ongoing U.S.–Iran tensions, adding further volatility to the market.