The primary driver influencing pricing on multiple asset classes including gold is the fact that inflation remains persistent at a 40-year high.

At least according to Chicago Fed President Charles Evans, the Fed may still be able to lower inflation without a sharp rise in unemployment and without pushing the economy into a recession. An assumption that only a few believe.

The jobs report for September showed a decrease in monthly gains, with 263,000 new jobs added last month, a decline from the prior month in which 315,000 new jobs were added.