Brief by Shorts91 Newsdesk / 09:06am on 31 Oct 2023,Tuesday Business
Gold prices eased on Tuesday but were on track for the biggest monthly rise since November 2022. The Israel-Hamas conflict had spurred safe-haven demand, pushing gold from $1,809 on October 6 to $2,009 last week. However, Israel adopting a more measured approach in Gaza has eased Middle East crisis fears. This led to profit booking in gold. But bullion was still set for an 8% monthly gain, its largest since November. In India, rising prices may dampen demand during festive season, said the World Gold Council. Lower purchases could halt global gold's rally.
