In 2020, the gold price increased from $1,479 to $1,858, marking a 25.6% growth year over year. The gold price maintained its momentum in most of 2021 but is now facing headwind as the economy recovers from the pandemic and the US Fed is tapering its pump priming.

The price of gold has remained ranged bound throughout 2021 staying above $1,700 an ounce for most of the year.

With pump priming from the US government on a wane, gold price will face a critical test in the coming weeks. With yields in US Treasury higher and the US dollar stronger, this could see the gold price drop below the $1,700 level.

It is also interesting to note that even with the Evergrande issue in China, gold failed to move about the $1,750 level.

This could be an indicator for the price of gold to remain range bound for the rest of 2021.

Suffice to say, the stability in the gold price bodes well LEGACi (LGC)!

Robert Leroux

Robert Leroux is the Founder of DigiLabs and Legaci Corporation. He is a Principal in numerous business ventures in Australia and internationally including in Information Technology, Digital Marketing, BPO, Management Consultancy and International Commodities Trading and Development.