The safe-haven affinity with gold has been helping prices hold its head above key levels since the selloff two weeks prior. The FOMC minutes held last week Wednesday gave some guidance to market participants that QE tapering will resume before the end of 2021. In 2013, taper talk led to rising Treasury yields which hammered gold prices. The approach from the Fed has been more cautious this time around with markets relatively unresponsive to last week’s meeting.
