Gold’s post-PPI bounce fades as Friday leaves the weekly picture weak
Friday's development is the gap between gold's bounce after US data and its later observed level. In Reuters' 13 November dispatch, spot gold briefly reaches US$3,922.97 per ounce after US producer-price figures, but stands at US$3,879.71 at 19:05 GMT, just 0.1% higher on the day.[6]
That observation corresponds to 20:05 in Italy on 13 November: it is yesterday evening's reading, not a price at 06:30 this Saturday.[6]
## A bounce does not erase the week
At the dispatch's observation, Reuters describes a weekly decline of around 4.5%, leaving gold on track for its weakest week since early June.[6]
We retain the report's wording rather than turning an observation during late US trading into an official spot closing price.
In the same article, US December-delivery gold futures have settled largely unchanged at US$3,886.30 per ounce.[6]
That is the settlement of a dated futures contract, separate from the spot observation.
## What changed with the US figures
Reuters reports a 0.3% monthly increase in October's producer price index for final demand, against 0.4% expected in its poll.[6]
In the report, analyst Tai Wong links the difficulty in retaining gains to struggling bond markets and the Fed's hawkish stance; that is an attributed interpretation, not this publication's forecast.[6]
In this particular market account, a softer-than-expected release was therefore not enough to make the initial bounce last.[6]
## No new LBMA benchmark on Saturday
The LBMA explains that its Gold Price is determined through auctions starting at 10:30 and 15:00 London time and that its benchmarks are not published on weekends.[7]
This article therefore assigns no new fixing to this morning and does not describe Reuters' spot observation or futures settlement as an LBMA price.
Neither is a retail bullion-bar quotation. This analysis offers no price target or instruction to buy or sell.
For service information, see [Masterblog's physical gold consultation page](https://masterblog.it/oro-fisico/); the link is not an investment recommendation.
## Sources
[6] https://www.fidelity.com/news/article/international/202611131433RTRSNEWSCOMBINED_L2N46U14P_1 — reuters-gold
[7] https://www.lbma.org.uk/prices-and-data/lbma-precious-metal-prices — lbma