Gold Surges Back Above $1800, Erases Payrolls/Flash-Crash Losses

As taper talk battles COVID cases continuing to rise, it appears the brief suppression of gold’s paper price has stalled as Gold Futures jump back above $1800 ahead of this week’s Jackson Hole summit.

This has erased all of the payrolls plunge and the flash crash losses from the prior week…

Arguably, gold has a lot more to gain if real yields are to be believed…

Is gold seeing the reality that Powell is entirely boxed in on the taper and it won’t happen? (and is that why crypto is also running higher)?

Tyler Durden
Mon, 08/23/2021 – 09:15

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