This is Gold's Reaction When the USD Goes Back Up!


 Gold held on to gains even as the US dollar began to show gains ahead of the release of US inflation data.

In the Asian trading session, the precious metal traded higher at around $1,707 per ounce, while gold futures were little changed at $1,710 per ounce.

Towards the release of US consumer price data, investors are seen to be more cautious about placing positions in the market.

In October, inflation is expected to rise to 6.5% year-on-year and 0.5% on a monthly basis.

If inflation meets expectations or falls lower, it could change investors' new expectations to see slower interest rate hikes from the Federal Reserve (Fed).

In the meantime, investors are also following the current developments in the American elections where as of this morning, the Republicans lead the Democratic Party in the House of Representatives and the Senate (according to the Wall Street Journal).