Gold contracts gained over 2% in trading Wednesday, climbing above the 1660 USD/Oz mark as the dollar weakened, with the DXY falling nearly 1.3%. Investors are retreating into safe-haven assets as they prepare for the typically tumultuous month of October. Additionally, US pending home sales fell 2% in August, and contract signing fell YoY by double-digit percentages in each region of the US, signaling that Fed tightening is having the intended contractionary effect.
