Two-thirds of chief economists surveyed by the World Economic Forum (WEF) at Davos expect a global recession in 2023, citing high inflation, low growth, high debt and high fragmentation environment.

Eurozone inflation rose above the 10% level in the month of October, buoyed by the strong soar in prices for natural gas and electricity due to Russia's war in Ukraine.

China's gold production jumped 12.4% year-on-year to 230.3 tons in the first half of this year, according to the state media Xinhua. The production volume of gold products made from domestic raw materials surged to 174.7 tons

The U.S. economy added 528,000 jobs in July, following a job gain of 398,000 in June, coming far above forecasts of 250,000 added jobs.

The Federal Reserve decided to raise interest rates by 75 basis points for the second straight month, lifting the target for the federal funds rate to a range of 2.25% to 2.5%.

Central banks continued to buy gold. Global official gold reserves grew by 100.6% in Q2 of the current year, reaching about 179.9 tons, compared to 89.7 tons in the first quarter of this year, according to data from the World Gold Council.