Global gold prices remained under pressure during Friday’s trading session (November 13, 2026), despite a marginal 0.14% gain to approximately US$3,879 per troy ounce. The precious metal is heading toward a weekly decline of nearly 4.5%, as persistent US inflation data reinforces expectations for further interest rate hikes by the Federal Reserve.
Downward pressure on gold intensified as the yield on the 10-year US Treasury note reached 5.15%, while the US Dollar Index (DXY) climbed to 103.41—nearing its highest level in 19 months.
US producer inflation data for October showed the annual Producer Price Index (PPI) rising to 6.5% from 6.3% in September, though the figure remained below market forecasts. Meanwhile, the core PPI held steady at 5%, in line with expectations. These figures, combined with previously higher-than-expected US consumer inflation, have bolstered the view among several Fed officials that further monetary tightening is necessary. Policymakers Mary Daly, Susan Collins, and Austan Goolsbee have highlighted the risks posed by persistently high inflation. Consequently, the market now assigns a nearly 90% probability to a 25-basis-point interest rate hike in December, with a roughly 10% chance of a 50-basis-point increase.
The combination of a stronger dollar and rising Treasury yields has increased the opportunity cost of holding gold, an asset that does not generate interest. Although gold received some support from producer inflation data that came in slightly lower than anticipated, it has struggled to sustain any meaningful recovery. Investors are now turning their attention to the minutes from the Federal Open Market Committee (FOMC) meeting, US retail sales data, and upcoming statements from Fed officials for further clues regarding the trajectory of interest rates and the outlook for gold prices.
Source: Newsmaker.id