Gold: Recovery Attempt After Sell-Off

Gold prices are showing volatility, with a recovery attempt following a significant sell-off. On October 21st, gold recorded its largest drop in the last decade, losing over 6%. Similarly, silver saw its biggest daily fall since February 2021.

The decline is attributed to a technical adjustment and outflows from ETFs. Investors are monitoring the prospects of a trade agreement between the US and China, which could reduce geopolitical tensions.

Initially, the price fell towards $4,000 per ounce, but then recovered above $4,100. Analysts believe that the long-term outlook for gold remains positive, due to purchases by central banks and global uncertainty.