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It has been a very volatile week for gold. After dropping $30, the precious metal surged back to its very familiar territory of $1,750-$1,760 an ounce.
Soaring U.S. Treasury yields and a higher U.S. dollar were the main obstacles for gold. And despite avoiding a government shutdown in the U.S. this week, there is still the threat of a default as the heated debt ceiling debate continues. Here’s a look at Kitco’s top 3 stories of the week:
3. Robert Kiyosaki: ‘The biggest crash in world history’ hits this October https://www.kitco.com/news/2021-09-29/Robert-Kiyosaki-The-biggest-crash-of-world-history-hits-this-October.html
2. Gold price sees double-digit drop as Yellen says failure to raise debt ceiling will trigger financial crisis, undermine U.S. dollar
https://www.kitco.com/news/2021-09-28/Gold-price-sees-double-digit-drop-as-Yellen-says-failure-to-raise-debt-ceiling-will-trigger-financial-crisis-undermine-U-S-dollar.html
1. Gold price jumps $40 as Fed’s Powell says the U.S. still ‘far from full employment’
https://www.kitco.com/news/2021-09-30/Gold-price-jumps-40-as-Fed-s-Powell-says-the-U-S-still-far-from-full-employment.html
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