Gold Pauses After Latest Rally

10 Nov 2022 , 01:11 PM

COMEX Gold futures slipped a little today after recent rally as the commodity eyed mixed undertone in risky assets. Global gold ETFs saw a net outflow of 59t (US$3bn) in October, the sixth straight month of declines in holdings. But Octobers outflow was less pronounced than Septembers (-95t) as the gold price held relatively steady. Headwinds from persistent dollar strength and rising yields were partially offset by higher inflationary concerns, according to the World Gold Council (WGC). The yellow metal currently quotes at $1711 per ounce, down marginally on the day. The commodity has pushed up impressively over last one week, rallying nearly 100 dollars. MCX Gold futures are trading at Rs 51586 per 10 grams, up 0.16% on the day.Powered by Commodity Insights