Precious Metals Preview: Gold slips half a percent in Asia, holds near one month low

COMEX Gold futures continue to ease amid firm US dollar after US President Trump appeared dissatisfied with Iran?s latest proposal to end the war. The yellow metal is near one-month low. There are some worries over Gold demand trends as well. World Gold Council or WGC has stated that total Q1 2026 global gold demand, including OTC, was 2% higher y/y at 1,231 tonnes (t). This modest growth in volumes combined with gold?s exceptional price rise, generated a 74% jump in the value of quarterly demand to a record US$193bn. WGC further noted that the global supply of gold increased in Q1 by 2% y/y to 1,231t. Modest growth in mine production together with a 5% uptick in recycling generated the increase. MCX Gold futures closed flat at Rs 151360 per 10 grams on last session and are likely to open on a tepid note today as COMEX Gold futures are down 0.53% at $4621 per ounce.

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