This is the scenario in which gold price jumps $300 this fall

9.1.22 - Great Resignation Creates Robot Boom

Gold last traded at $1,695 an ounce. Silver at $17.80 an ounce.

NEWS SUMMARY: Precious metal prices steadied Thursday on bargain hunting and a flat dollar. U.S. stocks extended losses as investor worried about rising interest rates and the economic impact.

KITCO--"Even though gold is heading for its fifth monthly drop, a high price scenario of above $2,030 an ounce cannot be ruled out this fall, according to RBC Capital Markets.

After peaking above $2,000 an ounce back in March, gold is ending the month of August down more than 5% year-to-date, with December Comex futures last trading at $1,731.70 an ounce.

'The large rally that we saw at the beginning of the year, particularly as Russia invaded Ukraine, was the type of crisis performance typical of gold,' Christopher Louney, commodity strategist at RBC Capital Markets, told Kitco News.

Since then, gold has fallen from its yearly highs. And that's because the particulars of this type of crisis were negative for the precious metal, Louney explained....

But the heightened geopolitical tensions could still support gold into the year-end, which is why a price tag above $2,000 is still possible this fall.

'Gold's tug of war is happening against a high-risk environment. One where there is a war in continental Europe that's ongoing. Also, I wouldn't write off U.S.-China tensions over Taiwan. On top of that, there are the broader geopolitical trade intricacies of what is happening in terms of an energy crisis and economic performance more broadly,' Louney pointed out. 'There is this high-risk perceived safe haven undercurrent that is a tailwind supporting gold.'"