Precious Metals Preview: COMEX gold extends gain above $3100 mark

COMEX Gold futures extended the break above $3100 per ounce mark on Tuesday morning in Asia. The metal hit a fresh record high of $3174 per ounce today. The counter currently trades at $3172.30 per ounce, up 0.73% on the day, fueled by mounting trade tensions and investor anxiety ahead of additional US tariffs. Gold had a blockbuster first quarter, with the precious metal finishing the Q1 2025 with whopping gains of nearly 20%. Gold is poised for its fourth straight weekly gain and the biggest monthly surge since March 2024, driven by strong central bank buying and soaring ETF demand. COMEX Gold has soared around 11% this month. MCX June delivery futures also touched an all-time high above Rs 90000 per 10 grams.

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