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Daily brief · Wednesday, May 13, 2026

Gold flat, silver jumps as hot inflation data lifts yields; India raises bullion import tariffs

Gold ended nearly unchanged at $4,675.70 an ounce, with several outlets pointing to hotter U.S. inflation data pushing Treasury yields and the dollar higher. Silver outperformed at $86.70 an ounce after reports said it was testing the $90 area, even as the same macro pressure weighed on gold.

AI summaryWritten automatically with AI from 28 linked reports and our own price data, Oct 21, 2:45 AM ET. Each point links to its sources. Published without an editor’s review; not investment advice. How this page is made

Closing prices for May 13, 2026

Gold $4,675.70 −0.06% 30d −1.0% Silver $86.70 +3.65% 30d +16.6% Platinum $2,127.00 +0.52% 30d +4.7% Palladium $1,482.00 −0.47% 30d −3.0%

Tone of the reports: Mixed

What happened

  1. U.S. inflation data was the main macro driver in today’s coverage: Kitco said CPI and PPI surprises lifted yields and a stronger dollar, which pressured precious metals prices intraday.

    SourcesKitco News: Gold, silver fall as CPI, oil and dollar pressure metals - KITCO2: Gold and silver slip after hot PPI boosts yields - Kitco AM Report3: Gold weakens, silver tests $90 after April producer-price shock - Kitco PM Report4: Gold slips, silver firms as CPI lifts yields and dollar - Kitco PM Report

  2. India raised import tariffs on gold and silver to 15% in an effort to curb bullion buying and support the rupee, according to Reuters and Bloomberg.

    SourcesReuters: India raises gold and silver tariffs to 15% to curb imports, support rupeeBloomberg: India Hikes Gold and Silver Import Tariffs to Protect Economy2: Why Modi Wants Indians To Stop Buying Gold - BloombergEarlier news service: INDIA more than doubles gold and silver import tariffs to 15%, effort to prop up..2: STONEX : India; significant hike in gold, silver import duty

  3. Reuters reported physical market pressure in India, with local gold discounts breaching $200/ounce as profit-taking increased.

    SourcesReuters: Gold discounts in India breach $200/ounce record amid profit-taking

  4. Silver strength stood out: Kitco said silver was “testing $90” even as gold weakened on the producer-price shock and higher yields.

    SourcesKitco News: Gold weakens, silver tests $90 after April producer-price shock - Kitco PM Report

  5. Fed personnel and process news was in focus: Reuters reported the Senate confirmed Warsh to the Fed Board, with a Fed chair vote likely Wednesday, and noted his first rate projection could make his policy stance clearer.

    SourcesReuters: Senate confirms Warsh to Fed Board, with Fed chair vote likely Wednesday2: To dot or not? Warsh's first Fed rate projection could out his views to the public - and Trump

  6. China-related demand/risk appetite was flagged: one report said major banks in China began lowering their risk ratings as gold prices retreated.

    SourcesEarlier news service: CHINA : As gold prices retreat, major banks have begun to lower the risk rating ..

Bull vs bear

The arguments the day’s reports made for each direction. We list them side by side; we don’t pick one.

The case for higher prices

The case for lower prices

What to watch

  • WednesdayFed chair voteReuters said a chair vote is likely Wednesday; leadership and communication around rate projections can move rate expectations, which the reports linked to gold’s direction via yields and the dollar.

Metal by metal

Gold $4,675.70 −0.06%

Multiple reports tied gold’s softness/hesitation to hotter CPI/PPI keeping yields and the dollar firm, which tends to weigh on non-yielding assets like gold. Separately, India’s tariff hike and widening India discounts were framed as near-term headwinds for physical demand there.

Gold headlines

Silver $86.70 +3.65%

Kitco highlighted silver’s relative strength, saying it was testing the $90 area even while macro forces (hot inflation, higher yields, stronger dollar) pressured the broader metals complex. India’s higher silver import tariff was also a key physical-market development.

Silver headlines

Platinum $2,127.00 +0.52%

No report focused on platinum.

Platinum headlines

Palladium $1,482.00 −0.47%

No report focused on palladium.

Palladium headlines

The day’s reports

31 reports, most important first, New York time.

  1. 8:00 PM Kitco News · 8:00 PM▼ Reports a fall Gold, silver fall as CPI, oil and dollar pressure metals - KITCO Gold and silver fell as CPI, oil and a stronger dollar pressured precious metals.
  2. 8:00 PM Kitco News · 8:00 PM Equinox Gold acquires Orla Mining in $5.1 billion consolidation ... Equinox Gold agreed to acquire Orla Mining in a $5.1 billion consolidation deal.
  3. 8:00 PM Bloomberg · 8:00 PM India Hikes Gold and Silver Import Tariffs to Protect Economy India raised import tariffs on gold and silver to curb bullion purchases and support its currency.
  4. 8:00 PM Kitco News · 8:00 PM▼ Reports a fall Gold and silver slip after hot PPI boosts yields - Kitco AM Report Gold and silver slipped after hotter U.S. PPI lifted yields and pressured metals.
  5. 8:00 PM Kitco News · 8:00 PM▼ Reports a fall Hot inflation data and stalled Iran ceasefire talks send gold retreating Hot inflation data and stalled Iran ceasefire talks pushed gold lower.
  6. 8:00 PM Yahoo Finance · 8:00 PM▼ Reports a fall Gold Slips as US Inflation Resurgence Raises Odds of Fed Hike Gold fell as U.S. inflation data raised odds that the Fed will keep rates higher.
  7. 5:45 PM Kitco News · 5:45 PM Gold weakens, silver tests $90 after April producer-price shock - Kitco PM Report Gold weakens while silver tests $90 after April's producer-price shock.
  8. 2:14 PM Reuters · 2:14 PM India raises gold and silver tariffs to 15% to curb imports, support rupee Reuters reports India raised gold and silver tariffs to 15% to curb imports and support the rupee.
  9. 11:38 AM Reuters · 11:38 AM To dot or not? Warsh's first Fed rate projection could out his views to the public - and Trump Reuters says Warsh’s first Fed rate projection could reveal his views to the public and to Trump.
  10. 10:40 AM Action Forex · 10:40 AM▼ Reports a fall Gold Stands at the Back Foot as Dollar Benefits from Higher US ... Gold falls as the dollar strengthens on Middle East uncertainty and shifting U.S. rate expectations.
  11. 9:15 AM Reuters · 9:15 AM Senate confirms Warsh to Fed Board, with Fed chair vote likely Wednesday Reuters says the Senate confirmed Warsh to the Fed Board ahead of a likely Wednesday chair vote.
  12. 8:00 PM FXEmpire · 8:00 PM▼ Reports a fall Gold Price Future Weakens After PPI Shock and Rising Treasury ... Gold futures weakened after a PPI shock and rising Treasury yields.
  13. 8:00 PM FXEmpire · 8:00 PM Gold (XAUUSD) & Silver Price Forecast: Truce Steady, CPI Hotter Gold and silver were little changed after hotter inflation data tempered rate-cut expectations.
  14. 8:00 PM Investing.com · 8:00 PM Gold Stabilizes After CPI-Driven Volatility Expansion - Investing.com Gold stabilized after CPI-driven volatility as markets repriced Treasury yields and Fed cut expectations.
  15. 8:00 PM Bloomberg · 8:00 PM Why Modi Wants Indians To Stop Buying Gold - Bloomberg Bloomberg says Modi wants Indians to stop buying gold after India more than doubled gold import tariffs.
  16. 2:47 PM Reuters · 2:47 PM▼ Reports a fall Gold discounts in India breach $200/ounce record amid profit-taking Gold discounts in India hit a record above $200 an ounce as profit-taking grows.
  17. 2:42 PM Kitco News · 2:42 PM India’s 15% import tariffs on gold and silver will impact precious metals demand, prices, currency - Experts Kitco says India's 15% import tariffs on gold and silver could affect demand, prices and the rupee.
  18. 1:16 PM Kitco News · 1:16 PM Record gold cash flow highlights mining sector’s growth challenge, Mazumdar says Kitco says record gold cash flow highlights the mining sector's growth challenge.
  19. 1:14 PM Reuters · 1:14 PM▼ Reports a fall TSX slips as technology, gold stocks drag Reuters reports the TSX slipped as technology and gold stocks dragged.
  20. 12:25 PM Kitco News · 12:25 PM▲ Reports a rise Silver price sees solid momentum and $90 could be just the start Kitco says silver has solid momentum and $90 may be only the start.
  21. 10:59 AM Kitco News · 10:59 AM ‘I wonder if they left the gold in Fort Knox, because they steal a lot’ – Trump speculates on U.S. gold reserve Trump speculates about whether U.S. gold remains in Fort Knox.
  22. 8:40 AM Kitco News · 8:40 AM▼ Reports a fall Gold prices touch session lows a producer inflation heats Kitco says gold prices touched session lows after producer inflation heated up.
  23. 8:25 AM Reuters · 8:25 AM UBS delays Fed rate cuts on inflation concerns, as jobs stay resilient UBS delays expected Fed rate cuts because of inflation concerns and resilient jobs data.
  24. 8:24 AM Reuters · 8:24 AM Warsh has big plans for the Fed, but results may take time Reuters says Warsh has big plans for the Fed, but results may take time.
  25. 3:54 AM BusinessLine · 3:54 AM Kerala gold merchants seek policy push for gold recycling Kerala gold merchants want policy support for gold recycling to reduce imports and protect jewellery jobs.
  26. 2:09 AM BusinessLine · 2:09 AM Malabar Gold & Diamonds seeks measures to support Gold Monetisation Scheme Malabar Gold & Diamonds wants improvements to the Gold Monetisation Scheme to boost domestic gold use and cut import dependence.
  27. 8:00 PM Fortune · 8:00 PM Current price of gold as of May 13, 2026 - Fortune Fortune looks at the current gold price and whether gold can protect against inflation.
  28. 8:00 PM MINING.COM · 8:00 PM Gold dealer's owner said to seek up to €500 million in Milan IPO A gold dealer's owner is reportedly seeking up to €500 million for a Milan IPO.
  29. 4:15 PM Kitco News · 4:15 PM Gold remains an attractive long-term asset as inflation takes its toll - Fawad Razaqzada A Kitco commentator says gold remains an attractive long-term asset as inflation erodes purchasing power.
  30. 8:00 PM Yahoo Finance · 8:00 PM Westhaven Commences Airborne Geophysical Surveys at Its ... Westhaven Gold began airborne geophysical surveys at its project.
  31. 8:00 PM Yahoo Finance · 8:00 PM Vior Gold Corporation Announces Results of Annual Meeting of ... Vior Gold announced the results of its annual meeting.

How this page is made

Collected every hour. Summed up twice a day. Linked to the source.

Where the news comes from

  • Reuters and Dow Jones headlines for gold, silver, platinum and palladium, through TradingView
  • Kitco News and MetalsDaily
  • The World Gold Council
  • Google News, for wider coverage
  • A daily AI web search for anything the feeds missed

How the briefs are written

Every hour we collect new headlines. An AI model from OpenAI tags each one by metal, topic and importance and writes a one-line summary from its headline and teaser. It doesn’t read paywalled articles. On weekdays at about 8 AM and after the 5 PM New York close, it writes a brief from the most important reports and our own spot price feed. Every point cites the reports it came from. On Fridays it writes a recap of the week.

Who publishes it

Bullion Trading LLC is a physical precious metals dealer in New York’s Diamond District, in business since 2008. Prices on this page come from our own live feed and LBMA history. We buy and sell bullion, so read the briefs as market context, not investment advice. Briefs are published automatically, without an editor’s review. If you spot an error, tell us.

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