Gold holding overnight gains above $4,100 even as US PPI rises 6.3% in September - Kitco
Gold holding overnight gains above $4,100 even as US PPI rises 6.3% in September - Kitco
Source: Kitco
―
DW NOTE
PPI at 6.3% is the highest print since 2022, and gold is treating it like background noise. The market has already concluded that inflation—whether producer-side or consumer-side—is structural while the Strait of Hormuz stays closed. The Strait has been effectively shut for seven months, WTI is at $96, and bond yields are spiking because no one believes the Fed can thread this needle. Gold above $4,100 isn't a fear trade anymore; it's the market pricing central bank impotence as a permanent condition.