Gold Holds Gains As U.S. Nov. Producer Price Index Rises 0.1%
Editor's Note: Updating earlier story with more details from report.
Going into the report, consensus expectations compiled by news organizations had been for steady or a fall of 0.1% in the headline figure.
As of 8:40 a.m. EST, spot gold was trading $2.50 higher to $1,246.30 an ounce. One minute prior to the data, the metal was at $1,246.50.
The rise was an unadjusted 2.5% for the 12 months ending in November.
The index for final demand, minus food, energy and trade services, rose by 0.3% last month, the third straight increase. On a year-on-year basis, this reading gained 2.8%.
Market participants monitor the data as a gauge for inflation at the wholesale level. The monthly report on inflation at the consumer level is scheduled for release on Wednesday.