Bitcoin climbs above $70K and gold rises after cooler PPI report

A softer October producer price reading trimmed odds of a larger December Fed hike, giving Bitcoin and gold a modest lift

Bitcoin pushed back above $70,000 on November 13, 2026, after a producer inflation report came in a touch cooler than Wall Street expected. Gold followed it up, trading above $3,900 per ounce.

The moves were modest. Bitcoin gained approximately 1-1.35%, and gold added around 0.6-1%. Still, in a week when inflation data has been running hot, even a small miss in the right direction was enough to change the mood.

What the PPI actually showed

The US Bureau of Labor Statistics published its producer price index for October on November 13. Headline PPI rose 0.3% month over month. Forecasts had called for 0.4%. On an annual basis, producer prices climbed 6.5%, slightly below the 6.6% that was expected.

Core PPI, which strips out the more volatile categories, landed exactly where forecasters put it. It rose 0.3% on the month and 5.0% from a year earlier.

So the beat was narrow. A tenth of a percentage point on the monthly and annual headline numbers is not exactly a dramatic shift in the inflation story.

A rough week, then a reprieve

The PPI release came on the heels of a consumer price index report that went the other way. October CPI rose 0.4% month over month, above the 0.3% forecasters had pencilled in.