How gold reacted to US PPI on Thursday 10 September 2026
Prices businesses receive for their goods, over the month. The latest figure came out at 13:30 UK time on Thursday 10 September 2026: 0.4%, against a forecast of -0.3%. The previous reading was 0%.
The highest reading since June 2026 (1.1%).
Out at the same time: jobless claims 206K (forecast 211K).
What gold did
In the first 15 minutes gold moved -232 pips, and over the first hour -63 pips. Four hours after the release it was -10 pips from where it started, and a day later -306 pips.
That was about a usual first hour: since April 2021, gold's first hour after PPI has typically moved about 43 pips one way or the other, across 62 releases. It was up after 37 of them and down after 25.
When US PPI surprised before
This release came in clearly above forecast. The 30 earlier times that happened since April 2021, gold's first hour was up 15 times and down 15, with a middle move of -2 pips. No clear pattern either way.
Since April 2021, PPI came in clearly below forecast 21 times. Gold's first hour was up 16 of those 21 times, by a middle amount of +24 pips.
The last releases
| Date | Result | Forecast | Gold, first hour |
|---|---|---|---|
| 10 Sep 2026 | 0.4% | -0.3% | -63 pips |
| 13 Aug 2026 | 0% | 0.5% | -59 pips |
| 15 Jul 2026 | -0.3% | 1.6% | +163 pips |
| 13 May 2026 | 1.4% | 0.4% | +50 pips |
| 14 Apr 2026 | 0.5% | 0.9% | +143 pips |
| 18 Mar 2026 | 0.7% | 0.5% | -401 pips |
| 27 Feb 2026 | 0.5% | 0.5% | -40 pips |
| 30 Jan 2026 | 0.5% | 0.5% | +487 pips |
| 14 Jan 2026 | 0.2% | 0% | +40 pips |
| 10 Sep 2025 | -0.1% | 0.7% | -7 pips |
| 14 Aug 2025 | 0.9% | 0.2% | -71 pips |
| 16 Jul 2025 | 0% | 0.2% | +15 pips |
The next PPI release is due on Thursday 15 October 2026 at 13:30 UK time.
Moves are in pips, where one pip on gold is $0.10, measured from the price at the minute of the release.
Important
For analysis purposes only. This shows what happened after past releases and should not be taken as financial advice or a recommendation to buy or sell. Past moves do not tell you what gold will do next. Trading carries a high risk of losing money.
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