Gold in the spot and futures markets gave up all of the small gains after the New York session ended and is now trading lower on the day. Gold futures gained $2.60 and settled at $1636.80 in New York trading today.

In an exclusive interview with Kathleen Hays of Bloomberg News today Federal Reserve Bank of St. Louis President James Bullard reinforced the resolve of the Federal Reserve to continue their aggressive rate hikes to curb high inflation.

On Thursday, October 27 the government will release its most recent numbers on Q3 GDP and the most updated numbers on our national debt. Economists and investors will be looking to see how deep of an economic contraction has taken place between Q2 and Q3.