Gold Holds Below $4,700 Ahead of US PPI Release
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On May 13, 2026, gold stayed under pressure below $4,700 as investors awaited fresh US inflation data. A firmer US dollar and rising Treasury yields continued to weigh on bullion prices.
Gold Slips as Dollar Strength Pressures Bullion
Gold traded during the European session, extending losses for a second consecutive day after stronger US inflation figures boosted expectations for higher US interest rates.
The US annual CPI rose to 3.8% in April from 3.3%, while core inflation climbed to 2.8%, supporting the US dollar and pushing Treasury yields higher. The 30-year US bond yield briefly touched 5.0%, reducing demand for non-yielding gold.
Gold traders remain cautious as the metal holds above support near $4,655 despite bearish sentiment.
Traders Await Fresh Inflation Signals
Markets are now focused on the upcoming US Producer Price Index report for clues about the Federal Reserve’s next move. The technical indicator also suggests weakening bullish momentum after gold failed to break above $4,770 resistance.
