Gold rebounds but heads for weekly loss ahead of key US inflation data
Gold rose 0.7% after a sharp drop the previous day, yet remains set for a weekly decline of nearly 4% as investors await US inflation figures.
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what happened
According to Reuters, spot gold climbed 0.7% to $3,903.19 an ounce on Friday after a heavy selloff in the prior session. The metal has lost nearly 4% this week, so it remains on track for a weekly decline.
Investors are waiting for US inflation data, including the Producer Price Index due at 1330 GMT. Markets price an 89% chance of a 25-basis-point Fed rate hike in December. New York Fed President John Williams said further hikes are likely.
Silver gained 0.2% to $50.12 an ounce, platinum slipped 0.1% to $1,514 and palladium rose 1% to $1,003.69. All three metals are also heading for weekly losses.
why it matters
Gold is seen as an inflation hedge, but higher interest rates reduce its appeal because bullion pays no interest. Strategist Nitesh Shah of WisdomTree sees support near $3,850, while hotter PPI data could cap gains. Rising oil prices on fading Middle East peace hopes add to inflation worries.
market impact
Gold and metals: Fed rate expectations and inflation data set the direction
- Gold mixed — a rebound from oversold levels competes with expectations of higher Fed rates
tags
instruments
sources
- Gold rebounds but heads for weekly fall before US inflation data — Reuters, 13 November 2026 at 10:27 UTC
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