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Why does datatrek research think gold is a good investment?

Nicholas Colas, co-founder of DataTrek Research, said in a note Thursday that his company’s positive view on gold stems from the belief that foreign central banks will be “consistent buyers for many years,” even as the pace of purchases has been slowing so far in 2024.

How much did gold gcz23 gc00 sell on COMEX?

Gold for December delivery GCZ23 GC00, +0.36% climbed $21.30, or 1.1%, to settle at $2,001.60 an ounce on Comex. Prices for a most-active contract haven’t ended a session above $2,000 and settled at a level this high since Oct. 30, according to Dow Jones Market Data. Gold has already seen record price highs in foreign currencies, Spina said.

Why did gold imports surge in October?

Gold imports to India surged in October to a 31-month high as “global central banks kept up their strong buying interests,” Spina said.

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