Weekly Gold Review: MCX futures bounce above Rs 100000 per 10 grams

COMEX Gold futures saw a solid jump after the US Federal Reserve Chair Jerome Powell has hinted at a possible interest rate cut in September. With policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance, according to Powell. COMEX Gold futures bounced back above $3400 per ounce swiftly following this and hit one and half week high of $3420 per ounce. The metal ended the week with a gain of around 1%. Prices are generally holding up well in last few days despite selling pressure on rallies as geopolitical scenario remained in focus and broad tariff worries also weighed, COMEX Gold futures are up around 2% in August 2025. MCX Gold futures fell under Rs 10000 per 10 grams but witnessed a good recovery and ended around Rs 100400 per 10 grams.

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