Gold Rebounds as US Yields Fall Ahead of Fed Remarks

By Martin Lam

Key Takeaways

US September producer prices increased by 1.3%, while retail sales rose by 0.8% month-over-month.
Treasury prices increased, leading to a decline in yields despite the inflation figures.
The Dollar Index fell, contributing to a rebound in gold prices.
Market attention is now on the scheduled remarks from Fed Chair Warsh for insights on monetary policy direction.

Today's economic calendar includes:

Policy remarks from Fed Chair Warsh at 11:30 (GMT+8), which may provide clarity on inflation and growth assessments.
Euro-area final September inflation data at 17:00, expected to be 3.8% year-on-year, up from 3.2% previously.
US September industrial and manufacturing production data at 21:15, with a forecasted increase of 0.4% month-on-month.
Oil markets are also monitoring inventory levels, reserve releases, and developments in Middle Eastern supply.

Market performance highlights:

The Dow rose by 1.08% to 52,177.
The S&P 500 gained 0.33% to 7,744.
The Nasdaq added 0.08% to 26,713.
The Dollar Index decreased by 0.51% to 102.00.
The 10-year Treasury yield fell by 12.7 basis points to 5.058%.
Brent crude oil declined by 0.24% to $105.81, while WTI rose by 2.65% to $97.61.
Gold prices increased by 1.59% to $4,170.25.

Time (GMT+8)	Event	Importance
00:00	US EIA Crude Oil Stocks Change	**
10:00	BoE Governor Bailey Speech	***
11:30	Fed Chair Warsh Speech	***
17:00	EU Final Inflation Rate YoY SEP	**
21:15	US Industrial & Manufacturing Production MoM SEP	**

Neutral to bullish bias with resistance at 1.1260 and support at 1.1179.

Mildly bullish bias with resistance at 1.3311 and support at 1.3245.

Neutral to bearish bias with resistance at 158.65 and support at 157.71.

Cautiously bullish bias with resistance at 99.12 and support at 95.29.

Neutral bias with resistance at 4191 and support at 4096.

Bearish bias with resistance at 58.75 and support at 56.18.

Neutral to bullish bias with resistance at 52442 and support at 51943.

Cautiously bearish bias with resistance at 30159 and support at 29637.

Neutral to bearish bias with resistance at 83457 and support at 80560.

Informational only. Not investment advice.