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according to reuters and other media reports, after the release of the u.s. producer price index (ppi) data on september 12, local time, gold prices rose rapidly on the same day, setting a record high.

data showed that the spot gold price rose nearly 1.7% that day, nearly $40 higher than the intraday low, and set a new record high of $2,560.13 per ounce. the settlement price of u.s. gold futures rose nearly 1.5% to $2,580.60 per ounce.

spot gold price chart reuters

data released by the u.s. department of labor on the same day showed that the u.s. ppi rose 0.2% month-on-month in august and 1.7% year-on-year, slightly higher than expected, but still consistent with the trend of falling inflation.

chicago mercantile exchangeanalysis data shows that the market currently expects the federal reserve to announce a 73% chance of a 25 basis point rate cut at its september meeting and a 27% chance of a 50 basis point rate cut.

in addition, the spot silver price rose 3.7% to $29.76 per ounce, and the platinum price rose 3% to $979.62 per ounce, the highest level in nearly two months.

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