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Gold holds near $4,018 per ounce as investors hedge against inflation pressure
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Gold prices hovered near $4,018 an ounce as investors favored safe-haven assets against inflation risks and geopolitical tensions, reinforcing steady physical demand in Asia.
Spot gold traded at $4,018 per ounce on October 29, maintaining strength as investors continued allocating to precious metals amid persistent inflationary trends. Analysts attributed the price resilience to geopolitical uncertainty, a stable dollar, and subdued Treasury yields. Physical demand from Asian markets, particularly India and China, provided additional support ahead of the festive and wedding seasons. Market strategists said gold’s positioning as an inflation and volatility hedge remains intact despite softer short-term momentum in global commodities.