Weekly Gold Review: COMEX futures hit fresh high near $4400 per ounce, metal up 10% this month

COMEX Gold futures soared further, breaking well above $4000 per ounce to hit a fresh record high near $4400 per ounce as global trade uncertainties offered excellent support to the metal. The counter is up around 10% this month and the ended the week with a spurt of around 6.70%. US dollar index has slipped amid falling treasury yields amid fears of a prolonged US government shutdown. Indian demand is holding steady around peak festive season with the latest spike in Indian Rupee triggering some respite on domestic quotes despite frenzied upmove in global prices. Following the sustained surge in last few days has become the first global asset to surpass the $30 trillion market cap threshold. This figure is calculated by the World Gold Council using the total amount of mined gold and real-time gold prices. Meanwhile, India's Gold imports stood at Rs 84926 crore in value terms in September 2025, spiking around 118% compared to September 2024. However, Gold imports value in first six-months of FY26 fell by 5% on year to Rs 230769 crore. MCX Gold futures neared Rs 130000 per 10 grams and trended lower but stayed well supported overall.

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