Yields slide again
Last month, US core CPI missed expectations and that briefly weighed on the US dollar, pulled Treasury yields down and boosted gold.
The market may be leaning towards something similar with the September CPI report due at the bottom of the hour. The consensus on core inflation is +0.2% m/m and +4.0% y/y for this report.
Meanwhile, gold has been steadily bid since Europe arrived on the scene today. It's up $15.50 to $1775. The October high of $1781 will be the level to watch through the CPI data.
