COMEX Gold futures are soaring at a rapid pace, turning higher after a break above $4500 per ounce and exploring record highs amid weak US dollar and sustained worries on global front. The yellow metal jumped around 1.90% in last session as the US dollar index eased to near three-month low. Russia has dismissed new peace plan and steeped up its attack in Uranian city of Odesa. This is pushing up both Gold and Silver sharply amid signs of excellent central bank demand. Central bank demand for gold remained robust in October, totalling 53 tonnes and marking 36% gain on month. The metal has spiked around 6% this month so far. MCX Gold futures are trading at Rs 138332 per 10 grams, up 1.16% on the day.

Meanwhile, a latest Reserve Bank of India (RBI) research paper, using neural network-based model-based results indicates that Gold continues to serve as the archetypal safe haven asset. Its long run price trend reveals strong upward momentum with sharp surges during the early 1980s, the GFC and the Covid-19 pandemic. The recent rally in 2022-25 further reflects investors’ response to systematic uncertainty and global tensions. Gold’s reputation as a hedge against inflation and a store of value makes it attractive to central banks and institutional investors.

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