On the other hand, prices of yellow metal in international markets fell by two percent, ending near $1,638 an ounce in October 2022.
The drop in gold prices was the result of higher-than-expected September readings of US consumer price inflation (CPI) and
Gold enters November and expects the
As gold fell for the seventh time in a row in October, current prices may provide a good entry point for gold investors to take advantage of the rise in prices driven by the recession, risk aversion and end-to-rate gains that will eventually follow. Quantum AMC said.
According to Quantum AMC, indicative of prevailing global uncertainty and the need for diversification, global central banks bought a record 399 tons of gold ($20 billion) in the quarter and brought full-year purchases to 673 tons, the highest since 1967. .
Investors too should recognize the risks in the current economic environment and diversify their portfolios with a gold allocation, it added.
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