US PPI rose 6% YoY, lifting US yields and the US Dollar
The US Producer Price Index increased sharply in April by 6% YoY, exceeding March’s 4.3% rise.
The Core PPI rose by 5.2% YoY, up from March’s 4%, above forecasts of 4.3%.
The XAU/USD pair trades at $4,699, down some 0.30%, as US Treasury yields jumped, with the 10-year yield up 2.5 basis points.