COMEX Gold Rises Near $1770 Per Ounce

Published on Oct 13, 2021 16:07

COMEX Gold futures jumped near $1770 per ounce as sound Indian economic cues boosted demand outlook from the country. Prices soared on upbeat comments from the World Gold Council (WGC). The World Gold Council (WGC) stated in a latest update that Gold hasn`t benefited from record-low real rates and high inflation in 2021 on rosy expectations about inflation, growth and equities. However, record low yields might constrain bonds` hedging potential in a risk-off event, offering gold an opportunity to command some of those defensive flows, should a shock to risk assets materialise.