Weekly Gold Review: COMEX futures gain around 1% this week

Gold surged to a new record high of around $3735 per ounce but dipped thereafter only to eventually see a recovery and moving up near $3700 per ounce mark as bargain buying helped cap losses. Broad sentiments remain in favour of Gold amid geopolitical unrest and excellent buying support from fund managers. Gold futures dipped after the Federal Reserve?s quarter-point cut, with Chair Jerome Powell signaling caution on further easing. The metal still ended the week with a gain of around 1% and remains over 40% higher year-to-date, supported by Fed policy expectations, geopolitical tensions, and central bank demand.

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