. Yellow metal is trading higher for the third consecutive session in mid-European trading today, Thursday, March 13, supported by declines in the US dollar after lower-than-expected inflation on Wednesday, and indirect inflation figures, including the Producer Price Index (PPI), released just moments ago, in addition to the implementation of tariffs on steel and aluminum imports on Wednesday.

Data released just moments ago from the US Bureau of Labor Statistics showed that the Producer Price Index (PPI) was unchanged in February after rising 0.6% in January, compared to expectations for a 0.3% increase.

This reading comes after the Consumer Price Index (CPI), a measure of inflation, rose 0.2% in February after rising about 0.5% in January.

The annualized index rose to 2.8% over the past 12 months, from 3.0% in January, below expectations of a 2.9% increase.

The annualized core index rose to 3.1% from 3.3%. The US administration’s 25% tariffs on steel and aluminum imports to the United States took effect on Wednesday.

The White House confirmed that these tariffs will also affect Canada and other countries.

Gold is trading at midday trading on Thursday at $2,947 per ounce, up about 0.50%, while silver is down about 0.12% at $33.19 per ounce.

Platinum is trading at $973, down about 1.12%, while palladium is down about 0.28% at $946.