Gold Hits Record Levels COMEX Gold futures surged past $4,500 per ounce, scaling fresh record highs. The yellow metal gained nearly 1.9% in the previous session, supported by a weakening US dollar and heightened global uncertainty.
Dollar Weakness & Geopolitical Tensions Gold prices rose as the US Dollar Index slipped to a three-month low. Escalating geopolitical tensions, particularly Russia rejecting a new peace plan and intensifying attacks in Odesa, further boosted safe-haven demand for gold and silver.
Strong Central Bank Demand
Central bank buying remained strong, with 53 tonnes of gold purchased in October, reflecting a 36% month-on-month increase. Sustained institutional demand continues to underpin gold’s upward momentum.
Gold has climbed nearly 6% so far this month. In India, MCX Gold futures traded at ₹1,38,332 per 10 grams, marking a 1.16% rise during the session, mirroring global strength.