U.S. producer price growth rises to 8.6%, gold price near daily highs

(Kitco News) Gold was largely unchanged and trading near daily highs after the U.S. Producer Price Index (PPI) rose to 8.6% on an annual basis in September versus the expected 8.7%.

This marked the largest year-over-year advance since November 2010.

The PPI slowed to 0.5% on a monthly basis in September from August’s 0.7%. Core PPI, which strips out volatile food and energy prices, came in at 0.2% month-on-month after August’s advance of 0.6%. And the annual core PPI rose 6.8% versus the expected 7.1%.