Gold holds above $3,900 as focus shifts to US inflation data

November 13, 2026 (MLN): Gold prices held steady on Friday with attention now turning to upcoming US inflation data.

Currently, spot gold is down 1.78% to $3,915.75 an ounce as of [10:17 am] PST, according to data reported by Mettis Global.

On Thursday, spot gold touched its weakest level since October 2025 as oil prices climbed on fading hopes for peace in the Middle East, stoking fears of higher inflation and elevated interest rates, according to CNBC.

Markets are pricing in an 89% chance of a 25-basis-point US rate hike in December, while the probability of a bigger 50-basis-point increase stands at 11%, according to CME’s FedWatch tool.

New York Federal Reserve President John Williams said on Thursday that more rate hikes are likely as the US central bank works to bring down high inflation in an otherwise healthy economy.

Separate data showed that new US jobless claims rose more than expected last week, though they remained at a level consistent with a stable labour market.

Market participants now await the US Producer Price Index data due at 1330 GMT.

Among other metals, spot silver rose 1% to $50.49 per ounce, while palladium climbed 2.1% to $1,014.5. Spot platinum gained 1.3% to $1,538.22.

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