Gold holds steady above $1700 per ounce

Published on Nov 10, 2022 12:34

Gold futures consolidated above $1700 per ounce mark as uncertainty over the US midterm elections and a meltdown in crypto assets provided good support to the metal. COMEX Gold futures are trading at $1711 per ounce, down marginally on the day but hovering just under its one month high. The US dollar index is quoting around 110 mark, keeping Gold supported. Indian retail demand also remains a positive factor for Gold and retail markets in US and Europe will also see some strength ahead of the Christmas shopping season.