Precious Metals Preview: COMEX gold retraces back from $4400 mark

COMEX Gold futures retraced from $4400 mark but holds around a two-month high at $4387.50 an ounce in early Asian trades on Monday. Gold?s recent upward momentum came amid a weak US July jobs report that pulled the US dollar index to three-month low. Meanwhile, the World Gold Council or WGC stated in a latest update that global gold backed ETFs added US$3 billion in July, reversing two consecutive months of outflows. The yellow metal rallied around 7% last week that marks the best performance for the metal since week ended January 23, 2026. MCX Gold futures also raced higher on upbeat global cues and broke above Rs 150000 per 10 grams mark.

Powered by Commodity Insights