COMEX Gold futures stayed locked in a range after hitting a two month high last week as traders eyed increasingly volatile undertone in risky assets and sustained selling pressure in equities. The World Gold Council (WGC) stated in a latest update that Gold benefits from diverse sources of demand like investment, reserve asset, jewellery, and a technology component. It is highly liquid, no ones liability, carries no credit risk, and is scarce, historically preserving its value over time. WGC noted that inflation was a prominent global theme throughout 2021 and is still a key input into 2022 investor decisions. WGC analysis shows that gold has performed well into CB hiking cycles and has been an effective inflation hedge. The metal holds around $1840 per ounce right now.
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