Gold weaker on follow-through selling from Tuesday's solid losses

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Today's U.S. producer price index report for August came in down 0.1%, which was right in line with expectations. The August PPI follows the July PPI reading of down 0.5%. After the CPI report, the marketplace was worried the PPI report would also show a higher-than-expected inflation print, but that was not the case.

The key outside markets today see Nymex crude oil prices higher and trading around $89.75 a barrel. The U.S. dollar index is lower in midday U.S. trading. The yield on the 10-year U.S. Treasury note is fetching around 3.45%.

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