Bitcoin and Gold Rally as US Inflation Cools to 3.4%

Bitcoin and gold prices surged following the release of US Personal Consumption Expenditures (PCE) data, which showed headline inflation cooling to 3.4% in September 2026, below the 3.7% forecast. Core PCE also rose by 3.0%, missing the 3.3% consensus. The softer-than-expected inflation report caused the probability of an October Federal Reserve rate hike to drop from 72.5% to below 40%, providing a boost to risk assets.