Previous Metals Preview: Gold holds above $3200 per ounce

COMEX Gold futures are witnessing corrective moves after hitting record highs. The metal has been holding near all-time highs amid trade tensions recently. This reflects a rush for safe-haven assets given uncertainty around US tariff policies and a global stock market rout. However,. speculative interest in Comex gold futures remains relatively muted, with the latest data showing a reduction in net longs from managed money. The metal soared nearly seven percent last week and broke above $3200 per ounce. It currently quotes at $3222 per ounce, down 0.68% on the day. Equities are trying to assess the reports stating exemptions for electronics like smartphones and semiconductors from the US tariffs.

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