Gold holding overnight gains above $4,100 even as US PPI rises 6.3% in September

(Kitco News) - After a solid overnight rally, rising inflation fears are limiting gold’s recovery Thursday, as higher producer prices show that the growing threat is unlikely to abate anytime soon.The headline Producer Price Index (PPI) jumped 1.3% in September, following August’s revised 0.5% increase, the U.S. Labor Department announced Thursday. The latest headline data was significantly hotter than expected, as economists had forecast a 0.6% increase.“The September increase is the largest advance since rising 1.7 percent in March 2022,” the report said.