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On this day — October 3, 2021
Sunday — the international gold market is closed. Spot quotes carry forward from the prior Friday close. Retail rates in jewellery markets may differ slightly based on local Sunday hours.
Day 276 of 365 · Q4 2021 · 75.6% through the year
October 2021 gold market: Inflation worries steady gold
Range-boundInflation worries offset taper pressure.
Gold recovered toward $1,790–$1,800 in October as surging energy prices and persistent supply-chain disruptions drove inflation expectations higher, reviving some hedging demand even as the taper loomed.
What drove gold in October 2021
- surging energy prices
- rising inflation expectations
- supply-chain disruptions
- looming Fed taper
Key events in October 2021
- Oct 22Gold firms near $1,800 as inflation gauges climb
What happened next
November brought a sharp inflation-driven spike and an equally sharp reversal.
For gold buyers
October showed gold could still catch a bid on inflation fear, even with the Fed preparing to tighten.