Gold near interim bottom, but World Gold Council says three conditions associated with price recovery ‘already in place’ - Livemint

AI desk brief

Gold closed October at $3,913/oz, down 6.3%, with the World Gold Council suggesting an interim bottom may be approaching. WGC says two historical recovery conditions are present—gold well below its 200-day average and a strong dollar—but speculative positioning remains elevated; a durable recovery would require further futures-position liquidation. Gold is roughly 10% below its 200-day average and could still test $3,857/oz support. WGC views the macro backdrop as favouring a correction rather than a prolonged downturn, while cautioning that its historical sample is limited and the outlook depends partly on inflation and equity-credit developments.