Gold Rebounds From a 13-Month Low After a Softer PPI Print, but Stays Below US$4,000 — Precious Metals Daily Update, November 13, 2026

Precious metals steadied on Friday, November 13, 2026, after Thursday's heavy sell-off sent gold to its lowest level in more than a year. Gold held around US$3,897.57 / C$5,550.55 per ounce, up 0.52 percent in US dollars and up 0.41 percent in Canadian dollars. Silver held around US$49.93 / C$71.10 per ounce, down 0.30 percent in US dollars and down 0.38 percent in Canadian dollars, while platinum held around US$1,508.95 / C$2,148.77 per ounce, down 0.90 percent in US dollars and down 0.96 percent in Canadian dollars. In trading so far gold has ranged between US$3,872.94 and US$3,923.21 per ounce, silver has ranged between US$49.51 and US$50.80 per ounce, and platinum has ranged between US$1,502.77 and US$1,544.28 per ounce. The modest rebound followed this morning's US producer price report. October PPI rose 0.3 percent month over month, below the 0.4 percent consensus and well below September's revised 1.4 percent increase, with the year over year rate at 6.5 percent against a 6.6 percent consensus and a 6.3 percent prior reading. Core PPI rose 0.3 percent month over month and held at 5.0 percent year over year. External snapshots were close to Gold Stock Corp's live feed, with Reuters putting spot gold up 0.5 percent near US$3,894.52 per ounce, silver steady near US$50.05 per ounce and platinum near US$1,513.92 per ounce, and Kitco showing gold near US$3,891.50 per ounce in early US trading. Even with the softer headline, producer inflation remains well above target, the 10-year Treasury yield held near 5.13 percent, the US dollar index held above 103, and futures still priced roughly an 89 percent chance of a 25 basis point December hike with about an 11 percent chance of a larger 50 basis point move. Gold remains down sharply on the week after three straight losses and a Thursday settlement near US$3,878.40 per ounce. For investors: Friday's bounce is bargain hunting from a 13-month low, not yet a confirmed reversal. The US$4,000 level remains resistance until gold can close back above it, while near-term support sits near the session low around US$3,873 per ounce and then near Thursday's low. The softer PPI headline eases the case for a 50 basis point December move, but with core producer inflation still at 5.0 percent year over year and the December 8 to 9 meeting now priced mainly as a choice between a 25 basis point and a 50 basis point hike, today's long line of Fed speakers can still move yields, the dollar and metals before the weekend. Staggered buying on pullbacks toward support, rather than chasing an intraday bounce below US$4,000, remains the more disciplined approach for Gold Stock Corp customers. For jewelers: Canadian replacement costs were mixed on Friday, with gold near C$5,550.55 per ounce, silver near C$71.10 per ounce and platinum near C$2,148.77 per ounce. Gold is slightly higher in Canadian dollars today, while silver and platinum are lower, so workshop costing depends on the metal in the order rather than a single move across the board. All three metals remain well below Monday's levels after this week's slide, which gives jewelers locking metal for confirmed holiday orders a cheaper entry than earlier in the week. With five Fed officials still to speak today, keeping trade and scrap buying aligned to live spot helps protect margins if prices move again before the close. Coming up — events that will move metals this week: Friday, November 13, 9:10 AM ET onward — Fed speakers, with Boston Fed President Susan Collins at 9:10 AM ET, Dallas Fed President Lorie Logan at 9:40 AM ET, Fed Vice Chair for Supervision Michelle Bowman at 10:50 AM ET, San Francisco Fed President Mary Daly at 12:00 PM ET and Fed Vice Chair Philip Jefferson at 7:00 PM ET: this is the first official reaction to the softer PPI print, so hawkish pushback would lift yields and the dollar and cap the rebound, while acknowledgement of the softer headline would let it run. Monday, November 16, 8:30 AM ET — New York Empire State manufacturing survey: the first November activity reading, where a strong print supports the firm growth and inflation story weighing on metals and a weak print eases it. Tuesday, November 17, 8:30 AM ET — US October retail sales: consumer strength is central to the December hike debate, so a hot report would reinforce tightening bets and pressure metals, while a soft report would question them. Wednesday, November 18 — Federal Reserve minutes of its October meeting: the minutes will show how the hold decision was framed and how seriously a larger December move was discussed, which moves December hike pricing, yields and metals directly. Live prices: https://www.goldstocklive.com