Gold Trades Near $4,350 Per Ounce on September 12, Up 0.77 Percent as Investors Weigh Hawkish Fed Against Dollar Weakness

Gold traded near $4,350 per troy ounce on September 12, up approximately 0.77 percent from the prior day, according to multiple spot price sources. Trading Economics reported gold at $4,350.36 on September 11, while Fortune quoted $4,407 on September 8 and $4,418 on September 9. The metal held near a one-month low despite Friday's hotter-than-expected producer price data, as paper traders brace for a hawkish Federal Reserve while physical buyers continue to add on dips. Gold futures fell 0.66 percent to $4,404.40 per ounce in early trading Friday, while silver futures rose 0.37 percent to $65.17 per ounce, per TheStreet reporting. Gold's resilience comes as the dollar sits near a four-month low yet real yields keep climbing, creating a crosscurrent that physical buyers are treating as a reason to add rather than exit, with record gold-ETF inflows this year signaling a deepening physical bid. The August Producer Price Index released September 10 rose 0.4 percent monthly and 5.4 percent annually, a tenth above forecast, driven by a 4.2 percent surge in energy costs tied to the US-Iran conflict, while core producer prices cooled to 0.2 percent. Markets now await the September 15-16 FOMC meeting, where futures price roughly a 60 percent chance of a rate hike, creating uncertainty for gold's near-term direction as higher real rates typically weigh on the non-yielding metal. Gold's 2026 all-time high reached $5,589.38 per ounce on January 28, with the current price approximately 22 percent below that peak.