- Gold preserves its bullish momentum ahead of the American session.
- 10-year US Treasury bond yield stays in the negative territory.
- Dollar struggles to find demand ahead of US inflation data.
Update: Gold fell sharply in the early American session and gave back its daily gains with the greenback regaining its footing following the September US inflation data. The US Bureau of Labor Statistics announced on Wednesday that the Core Consumer Price Index (CPI) stayed unchanged at 4% on a yearly basis while the CPI edged higher to 5.4% from 5.3% in August. Reflecting the renewed dollar strength, the US Dollar Index is posting small daily losses at 94.40. Meanwhile, the 10-year US Treasury bond yield is now in the positive territory, rising 0.4% at 1.587% and putting additional weight on the XAU/USD pair’s shoulders.
The XAU/USD pair struggled to make a decisive move in either direction in the first couple of days of the week but…