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On this day — October 19, 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 292 of 365 · Q4 2021 · 80.0% 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
Themes#inflation#energy prices#supply chains
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.