Gold Reaches New Price High, Dampens Chinese Demand

10/31/2024 2:05:26 PM

(MENAFN- Investor Brand Network) Earlier this week, the
price of gold dropped
from its recent high as the greenback soared, before rallying back to $2,743 a troy ounce. This change comes as new data shows that demand for the precious metal from China, which is the biggest consumer of bullion globally, fell.

Spot gold also saw its price drop to $2,725 a troy ounce during Asian trade. At the same time, the dollar index hit its highest level since...

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