U.S. Producer Prices Rise 1.4% M/M

Spot gold slipped to $4,691.22/oz while futures rose to $4,699.09/oz amid a firmer dollar.
U.S. headline PPI rose 1.4% month‑over‑month in April, the biggest gain since March 2022, and 6% year‑over‑year.
Hotter‑than‑expected CPI and PPI, driven by oil price spikes from the Iran‑related conflict, lifted the dollar and pushed Treasury yields higher.
President Donald Trump’s visit to China was highlighted, with expectations of discussions on trade, Iran, Taiwan and supply chains.