Gold Holds Biggest Gain Since March on Persistent High Inflation

Oct 13, 2021

Gold Holds Biggest Gain Since March on Persistent High Inflation

As investors considered concerns about stubbornly high inflation and the imminent decrease in stimulus, gold held steady following its largest gain in seven months.

The consumer price index in the United States increased more than expected in September, resuming a higher rate of growth and highlighting the economy's continued inflationary pressures. Following the announcement of the data on Wednesday, the yield on 10-year Treasuries dropped after an initial rise, increasing demand for non-interest-bearing bullion. China's factory-gate prices rose at their highest rate in nearly 26 years last month, adding to global inflation concerns, according to data released on Thursday.

Meanwhile, minutes from last month's Federal Reserve meeting revealed that members generally agreed that reducing asset purchases should begin in mid-November or mid-December, owing to rising inflation concerns. One of the major pillars in bullion's climb to a record last year was the pandemic-era stimulus measures.

"If high inflation remains, gold may really start attracting a strong bid," said John Feeney, business development manager at Sydney-based bullion dealer Guardian Gold Australia. "This is a huge change from earlier in the year, when taper worries overshadowed inflation fears," he said. "Gold has historically performed well in inflationary circumstances, therefore the market should become positive if inflation continues to outperform."

After rising 1.9 percent on Wednesday, the highest since March 9, spot gold dropped 0.2 percent to $1,789.06 an ounce at 12:17 p.m. in Singapore. After falling 0.5 percent in the previous session, the Bloomberg Dollar Spot Index was little altered. Silver, platinum, and palladium all fell in price.

Subscribe Our Newsletter

Hong Kong Banks Feeling The Pain Of Losing Transaction Business As Over 400 Branches Shut Amid Pandemic
Hong Kong Banks Feeling The Pain Of Losing Transaction Business As Over 400 Branches Shut Amid Pandemic

According to a Post analysis of bank announcements, 20 banks temporarily shuttered another 135 offices in the previous week, raising the number of citywide shutdowns to 412 as of Saturday. This represents 37% of the 1,100 local branches, up from 25% the previous week.

Banks and Finance
New Inflation Data Could Fuel Inflation Stock Market Rally

Milena

New Inflation Data Could Fuel Inflation Stock Market Rally. Here Is Why.

Inflation stock market : In the face of rising inflation, the Fed may be compelled to lower interest rates in 2024.

Stock Market Forecast
Get the ultimate solution: B2BinPay Get the ultimate solution: B2BinPay
Sponsored
Alexander

Bitcoin Power Law Explained: How It Shapes BTC’s Long-Term Growth
The Bitcoin power law may hold the key to understanding BTC’s exponential rise — explore what it is and why it matters.

discover
What is a Broker Dealer and How Does It Work?

Constantine

Broker-Dealer: Explaining the Core Working Principles

Discover what a broker-dealer is, how it ensures the efficiency of market processes, and what types of brokerage exist today.

Fintech
Contact us bg

Contact Us

Contact the Liquidity Provider
for any questions and advertising inquiries

    Please fill out this contact form to get in touch with us

    / 3000

    By clicking “Get in touch” button, you agree to the privacy policy

    Successful!
    Thank you for your request.
    We will contact you shortly.
    Close

    Constantine

    How to Start a Liquidity Provider Business?

    How to Start a Liquidity Provider Business

    Constantine

    How to Start a White Label Brokerage?

    How to start a white label brokerage

    Constantine

    How to Start a Multi-Asset Brokerage?

    How to Start a Multi-Asset Brokerage

    Hazem

    Crypto Ransomware – How They Happen and How to Avoid Them

    Crypto ransomware explained

    Constantine

    Best Web3 Browsers in 2025

    Best Web3 Browsers

    Constantine

    Best DAO Projects in 2025

    Best DAO projects in 2025

    Alexander

    Crypto Nodes That Pay: Your 2025 Guide to Top Passive Income Opportunities in Crypto

    crypto nodes that pay

    Alex

    Pi Network: Scam or Groundbreaking Crypto? The Full Analysis

    Pi Network Explained

    Constantine

    Triple Net Lease: Meaning, Benefits, and Strategies Explained

    Triple Net Lease

    Constantine

    Hanging Man Pattern: How to Identify and Trade It Effectively

    Hanging Man Pattern

    Alex

    5 Infinite Banking Mistakes That Could Cost You Thousands

    Infinite Banking Mistakes to Avoid

    Aleksander

    Solana Firedancer: Solving Solana’s Biggest Problems with a New Engine

    Solana Firedancer explained

    Alexander

    What Is an Interest Coverage Ratio? How to Use This Financial Metric to Evaluate Company Health

    Interest Coverage Ratio Explained

    Hazem

    After-Hours Trading: Can You Trade After Financial Markets Close?

    After-Hours Trading Explained

    Alexander

    How to Scale a Crypto Exchange Business and Stay Competitive

    how to scale crypto exchange business

    Constantine

    Crypto CrypticStreet Review: The Future of DeFi and Secure Crypto Trading

    Crypto CrypticStreet Review: The Future of DeFi and Secure Crypto Trading

    Alexander

    Bitcoin Power Law Explained: How It Shapes BTC’s Long-Term Growth

    Bitcoin Power Law Explained: How It Shapes BTC’s Long-Term Growth

    Hazem

    Megaphone Pattern​: What Is It? How to Use It In Trading

    Megaphone Pattern​: How to Read & Trade with It

    Constantine

    Top 5 Liquidity Bridge Providers in DeFi

    Top 5 Liquidity Bridge Providers in DeFi

    Hazem

    Max Funded IUL Explained: Is It a Legitimate Financial Strategy?

    Understanding Max Funded IUL

    Alexander

    Tax Refund Timeline: When Will You Get Your Tax Return?

    how long does it take for tax refund

    Constantine

    Crypto Liquidity — What is it, and How to Measure It?

    What is Crypto Liquidity and How to Measure It?

    Constantine

    AI in Finance: A Game-Changing Trend Shaping the Industry

    AI in Finance

    Hazem

    5 Ways to Make Money with ChatGPT and Build Your Wealth

    Make Money with ChatGPT
    liquidity-provider-logo
    • News
      • Stock Market Forecast
      • Stocks
      • Banks and Finance
      • Companies
      • Crypto
      • Forex
      • AI
      • Technology
      • DeFi
      • NFT
    • Articles
      • Crypto Payments
      • Trading
      • Crypto Exchange Business
      • Forex Business
      • Fintech
      • Liquidity
      • FinTech Awards
      • Blockchain
      • Investing
      • NFT
      • DeFi
    • More
      • Videos
      • Liquidity Providers List
      • Crypto Payment Providers
      • White Label Brokerage Platforms
      • Broker CRM Platforms
    [email protected]

    © 2024 Liquidity Provider. All Rights Reserved

    Privacy Policy Cookie Policy
    This site is registered on wpml.org as a development site. Switch to a production site key to remove this banner.