The US GDP data for September showed yields were slightly lower than expected, despite the fact that they missed a 16-year peak. Risk assets have been given some breathing room by the retreat in yields, but investors are worried about a possible downward spiral due to Index uncertainties in October.
Market analysts will be closely monitoring the Core PCE Price Index, to see if there are any signs of rising core pressures. If so, this could increase the likelihood of an interest rate hike by the US Federal Reserve in November.
The price of gold has continued to fall this month as demand for the metal dries. The US dollar has been receiving a lot of bonds at the moment, as investors are wary about the zero return offered by gold. Investor interest will surge when higher yield rates are returned. The current gold market has a lower performance than expected.
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