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On this day — September 21, 2021
Tuesday — a normal trading day. Tuesday is also when the CFTC publishes Commitments of Traders data for the prior week, often producing intraday movement.
Day 264 of 365 · Q3 2021 · 72.3% through the year
September 2021 gold market: Taper signals pressure gold
BearishApproaching QE taper lifted yields and the dollar.
Gold drifted lower toward $1,750 in September as the Federal Reserve signalled it would soon begin tapering its bond purchases. Rising yields and a firmer dollar weighed on the metal into the autumn.
What drove gold in September 2021
- Fed signalling a November taper
- rising Treasury yields
- firmer US dollar
- subdued investment demand
Key events in September 2021
- Sep 22Fed flags imminent taper; gold eases toward $1,750
What happened next
Inflation worries pulled gold back up in October before a volatile November.
For gold buyers
September reminded buyers that the withdrawal of central-bank support — not just rate hikes — is a headwind for gold.