Gold Lower After US PPI Rose in September

Gold prices ticked down as producer inflation pressures in the U.S. met expectations for September.

Producer Price Index (PPI) rose 0.4% last month following an increase of 0.2% in August, the U.S. Labor Department said on Thursday. According to consensus forecasts, economists were expecting to an increase of 0.4%.

The annual PPI advanced to 2.6% in September, which marked the quickest pace in over five years and beat economists’ expectations of 2.5%.

Core inflation, which strips out volatile food and energy prices was up 0.2% in September, the same as in August. Annual core inflation came in at 2.1%, beating market consensus forecasts of 2%.

Immediately after the release, gold edged down, with December Comex gold futures last seen trading at $1,294.90 an ounce, up 0.47% on the day. Prior to the release gold prices hit a two-week high in pre-U.S. session trading.

via Kitco

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at Visit to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza