Commodity Roundup China Holds Off Gold Buying For Third Consecutive Month

Gold Prices Rise Amidst Expectations of US Economic Downturn

Softer US Dollar Index and China's Gold Demand Fuel Gains

China's Central Bank Resumes Gold Purchases

WEB - Gold prices extended gains from the previous session on Thursday, buoyed by a softer US Dollar index amid expectations of an economic slowdown in the United States.

WEB - China's central bank, after pausing in May and June, resumed official gold purchases in July. The move suggests that the country maintains a strong appetite for bullion.

WEB - Despite the recent surge in gold prices, China's net gold imports via Hong Kong fell for a second consecutive month in October. This decline is attributed to fluctuations in the physical market.

WEB - Investors are monitoring the situation closely as gold continues to hold support above $2350 an ounce. August gold futures currently trade at around this level.