**World Gold Council Market Update: October 2024**
A momentum flush-out and a strengthening U.S. dollar contributed to a see-sawing performance for gold from its 50th all-time high. Despite these fluctuations, gold still posted solid gains throughout October.
Technical analyses indicate that gold is currently experiencing a much-needed pause. However, there is no evidence of damage to its overall trend, which remains supported by fundamental factors. Notably, the sharp increase in volatility observed when gold prices peaked in the third week of October was similar to levels seen during previous peaks in 2020, 2022, and April 2025.
**October Market Recap**
On October 20th, gold hit its 50th all-time high at US$4,294. However, it subsequently gave back most of its intra-month gains, ending October up 5% at US$4,012 per ounce. Despite this pullback, gold managed to maintain gains across all major currencies, emphasizing its resilience.
**About the World Gold Council**
The World Gold Council is the market development organization for the gold industry. Our purpose is to stimulate and sustain demand for gold, provide industry leadership, and serve as the global authority on the gold market.
As a unique organization, we deliver tangible benefits to the gold industry by collaborating with a diverse set of partners. Our efforts focus on creating access, driving innovation, and stimulating demand, while providing a collective voice for our members.
We also offer valuable insights into the international gold markets, helping the public and investors understand gold’s investment qualities and its role in meeting social and environmental needs.
For more information, visit [www.gold.org](https://www.gold.org).
https://seekingalpha.com/article/4840018-gold-market-commentary-technical-difficulties?source=feed_all_articles