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Gold futures rebounded after a historic 2-day decline
The December Gold futures contract saw a modest rebound, trading up 2.33% today after a significant two-day drop of 6.7%. The decline on Tuesday was a historic move of 4.5 sigma, which statistically occurs about once out of every 240,000 trading days. Despite today's gain, the market is awaiting new investor positions. Looking ahead, the US September CPI data—the first inflation data released since the government shutdown—is expected tomorrow. The data will be key in influencing next week's FOMC meeting and determining if Gold futures continue their rebound or resume the prior downtrend.
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