Following the August US CPI report, which showed US inflation rates starting to subside, gold prices have been unable to find any follow through higher. The bullish outside engulfing bar on Tuesday was met with a bearish inside bar today, cementing another failed attempt to climb back above the 1800 level. The fact of the matter is that, even as the US Dollar (via the DXY Index) remains broadly weaker from its highs at the end of August, Fed rate hike odds remain firm (pricing in 89-bps through the end of 2023) and the shape of the US Treasury yield curve (as measured by the 2s5s10s butterfly) suggests that tapering ... (full story)