Other Markets - Bullion Markets
COMEX Gold futures consolidating around record high of $2800 per ounce As on : 31-Oct-24  15:05

COMEX Gold futures are consolidating around a record high of $2800 per ounce today. Overall sentiments remain supported for the metal after recent spike as geopolitical climate is challenging and continues to support the commodity. Investors are also waiting for a key U.S. inflation report due later on today that could shed more light on the Federal Reserve's interest rate outlook. COMEX Gold futures are trading down 0.36% at $2790 per ounce. Gold is up around 5% this month after clocking a similar gain in September too. The metal is up a whopping 35% this year amid sustained policy uncertainty, good demand from central banks and worries over geopolitical clashes. Fed cutting rates for the first time in four years has propelled the metal into a whole new trajectory in this month as a spike in US dollar index and rising US yields has had no impact on the metal whatsoever.

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