Precious Metals Preview: Gold supported as $4000 per ounce mark manages to hold

COMEX Gold futures are trying to stabilize after falling to around seven-month lows as US dollar index eased a little after recent surge. Gold is currently trading at $4064 per ounce, up 0.42% on the day as the $4000 per ounce mark seems to be offering steady support to the counter. Meanwhile, the US dollar index is quoting at 101, down 0.22% on the day but will likely see steady moves amid firm economic trends. The United States economy grew at an annual rate of 2.1% in the first quarter of 2026, higher than previously estimated, according to the third estimate released by the US Bureau of Economic Analysis (BEA) yesterday. This can cap the losses for the US dollar index after it hit around 13-month high this week. MCX Gold futures are likely to see a steady start in evening trades today after the counter closed flat at Rs 143200 per 10 grams in last session. An impressive intraday bounce was seen in the metal amid a strong surge in the open interest.

Powered by Commodity Insights