Gold up $15 to $1808 today
Falling inflation and declining Treasury yields are good news for gold bugs.
The yellow metal has risen to the best levels since Sept 6. Early in the day it had touched the worst since Aug 25 so it’s shaping up to be a bullish outside day.
In the bigger picture, you could argue a triple top at $1835 or an inverse head-and-shoulders with a neckline there.
In any case, this is clearly a range trade for the moment but if we get a close at these levels, the bulls will have the upper hand into the FOMC decision.