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World Gold Council Gold ETFs flow report and Gold Market Commentary for October 2022



Key highlights include: –

  • Gold fell 2% in October on continued rising bond yields and dollar strength but it was positively impacted by higher breakeven inflation and slowing ETF outflows provided some support
  • Looking forward: Historically, US midterm elections have been very positive for equities but only mildly supportive for gold
  • We don’t see midterms having a meaningful impact on gold this time either, more likely gold will take its cue from the US dollar and monetary policy as it has done this so far this year
  • Central banks dialing back aggressive rhetoric, slower ETF outflows and short-covering risk in COMEX futures may signal a brighter few weeks ahead.

Download the reports below.

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