Fed hike bets push gold toward its worst week in four months
Gold edged up after a US producer price report, but it is on track for a weekly loss near 4.5%. Markets now price a high chance of a December rate increase.
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what happened
According to Reuters, spot gold rose 0.1% to $3,879.71 an ounce. After the US Producer Price Index release, it briefly reached a session high of $3,922.97. The PPI for final demand climbed 0.3% in the latest month, after September's gain was revised up to 1.4%. A Reuters poll had expected a 0.4% rise.
On Thursday gold dropped 3% to its lowest level in more than a year as higher oil prices fueled concern about inflation and prolonged high interest rates. Hotter-than-expected consumer price data added to the pressure. The metal has lost about 4.5% so far this week. Silver fell 1.9% to $49.05 an ounce, platinum slipped 1.9% to $1,490.06, and palladium gained 1.1% to $1,004.40.
why it matters
Gold pays no interest, so it becomes less attractive when investors expect higher rates. CME's FedWatch Tool shows a 91.4% probability of a 25-basis-point US rate hike in December and an 8.6% chance of a 50-basis-point move.
market impact
Gold and silver: expectations of tighter Fed policy weigh on precious metals
- Gold pressure down — higher rate expectations reduce the appeal of a non-yielding asset
- Silver pressure down — weak gold and expectations of high rates pressure the metal
tags
instruments
sources
- Rate-hike bets keep gold on track for worst week in four months — Reuters, 13 November 2026 at 19:33 UTC
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