Precious Metals & Energy – Weekly Review and Calendar Ahead By Investing.com – Investing.com

Precious Metals & Energy – Weekly Review and Calendar Ahead By Investing.com – Investing.com

© Reuters.

By Barani Krishnan

Investing.com -- “The only thing that should surprise us is that there are still some things that can surprise us,” celebrated French author and 17th century moralist Francois de la Rochefoucauld said. That gold and U.S. jobs numbers could still surprise us this week despite the expectations baked into them was indeed a surprise.

After months of anemic action, gold prices suddenly broke out on Thursday, playing catch-up to the rally in a horde of commodities from to - and even - that had been reacting to U.S. inflationary pressures since the start of the year.

Conviction itself has been a rare commodity in gold since the yellow metal came off its $2,000 record highs in August and meandered for a while before stumbling into a systemic decay from November, when the first breakthroughs in COVID-19 vaccine efficiencies were announced.

Except for gold bugs who had sworn allegiance to the yellow metal, many long investors have been thrown off gold’s path after the travails of the past six months, which included 11-months lows at under $1,675.

Thus, with the recapture of the $1,800 berth on Thursday after a 10-week struggle, multiple price demands were set for