Unfortunately, the joy was short-lived. Gold dived again below $1,800 later on Friday.
Fix was above $1,800, the key psychological level under which gold has been stuck recently. As the chart below shows, the London P.M. Gold was appreciating since early morning, and it even jumped above $1,810 around 10-11 A.M. Inflation worries have intensified, gold started to rally on Friday… and then Powell came, ruining the party and killing the bullish vibe.įriday (October 22, 2021) started wonderfully for the yellow metal. Inflation worries have intensified and gold started to rally, but then Powell crashed the party, killing the bullish vibe…
