October 25, 2021

Gold rallied today in early morning trading, breaking through the $1,800 resistance level not seen since September 3rd.    December Gold on COMEX closed at $1,808.00 up 2.9% for the month of October.

Gold has found new momentum this month as strong inflationary data continues to materialize,  indicating a much longer duration than originally foreseen.  Seen as a store of value during inflationary times, gold looks to continue its run from its current level as the US dollar continues to slide.   

With higher commodity prices being forecasted by many outlets, market participants will watch for the results from the next Federal Reserve (FOMC) meeting scheduled on November 2nd-3rd.