Sharp correction not ruled out now post 10% gold rally from lows

October 21, 2023

Receding odds of a Fed rate hike in the near term and continuing Hamas and Israel war boosted gold to build on its previous weekly gain of $100. Gold closed with a weekly gain of $50 at $1982, which translates into a weekly gain of roughly 2.70%. The yellow metal was up 0.40% Friday in a volatile session.

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