Gold took a $35 jump after struggling to escape the $1,800 range, alongside strength in equities and cryptocurrency markets.
- If gold puts in a higher high on this rally, the price would be on its way regain June losses.
- The U.S. Dollar Index dropped below its rising channel after the RSI divergence last week, giving gold a boost.
- Companies are protecting their margins by passing higher costs to consumers. Despite record inflation, consumer demand for goods has also been rising.