Gold inter-market: Could reverse course on US dataflow

Gold prices extend its bearish momentum into a second day on Friday, largely weighed down by increasing calls for a Dec Fed rate hike. While higher global equities also collaborated to the downside in the prices.

Further, the latest leg higher in the US dollar across the board yesterday also pushed the yellow-metal further into losses. The USD index now hovers near 2-day highs reached just shy of 96 handle.

However, the bullion is likely to change course and could stage a rebound in the session ahead, as the tumbling US treasury yields across the curve point towards further USD weakness, which may be triggered by poor US data dump, as widely anticipated.