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Commodity Post Session News

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(22 Feb 2025, 14:56)

Weekly Gold Review: Comex futures off record high

COMEX Gold futures fell from record highs last week as the US dollar index found some stability after recent losses. The yellow metal has been in awesome form recently on continued global trade uncertainty and geopolitical worries. The counter ended the week around $2950 per ounce. Local traders are trying to assess the impact of latest price surge on retail demand. A latest update from the World Gold Council or WGC shows that India’s gold jewellery demand has fallen for three consecutive years. It stood at 610 tonnes in 2021, dropped to 600 tonnes in 2022, dropped further to 575 tonnes in 2023, and is estimated to fall to 563 tonnes in 2024, marking a drop of 7% from 2022 levels.
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