How gold reacted to US PPI on Friday 13 November 2026
Prices businesses receive for their goods, over the month. The latest figure came out at 13:30 UK time on Friday 13 November 2026: 0.3%, against a forecast of 0.4%. The previous reading was 1.3%.
The lowest reading since August 2026 (0%).
What gold did
In the first 15 minutes gold moved +82 pips, and over the first hour +78 pips. Four hours after the release it was +16 pips from where it started, and a day later -26 pips.
That was a bigger first hour than usual: since April 2021, gold's first hour after PPI has typically moved about 43 pips one way or the other, across 64 releases. It was up after 38 of them and down after 26.
When US PPI surprised before
This release came in about in line with the forecast.
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 |
|---|---|---|---|
| 13 Nov 2026 | 0.3% | 0.4% | +78 pips |
| 15 Oct 2026 | 1.3% | 0% | +23 pips |
| 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 |
The next PPI release is due on Tuesday 15 December 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.
Get it live in the Newsroom
The Newsroom in the Trade By Focus app has this for every US release: the result against the forecast as it lands, gold's move after it, how it compares with every earlier release, and the next ones on the calendar, with the day's gold news read as it comes in. Open the Newsroom
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