A strong US dollar and a cautious market approach ahead of key economic data and Federal Reserve talks pushed gold prices lower. Federal Reserve minutes expressed optimism about a strong labor market and easing inflation,
Global demand for gold remained stable at 1,176.5 metric tons in Q3 2024, as robust investment activity offset declining jewelry consumption, according to a World Gold Council (WGC) report. With a 97% increase in over-the-counter (OTC) flows to 136.5 tons, total (EPA:TTEF) demand, including OTC trading, reached 1,313 tons in the third quarter. Gold ETFs saw inflows of 95 tons, marking their first quarterly growth since Q1 2022. However, the central bank’s gold purchases fell by 49%,
