Pepperstone's Dilin Wu notes gold has bounced off a two-month low of $4,066 as Treasury yields pulled back from their highs — the 10-year briefly topped 5.36% last week. With $4,200 the key level for the bounce to continue, this week's September CPI and Warsh's Friday remarks at the IMF meeting in Bangkok will test whether the recovery can extend.
Structural support remains intact: China's central bank stretched its gold-buying streak to 23 consecutive months, and World Gold Council data show global gold ETFs drew a record $31 billion in Q3, with holdings at an all-time high of 4,256 tonnes.
