Weekly Gold Review: COMEX futures sparkle, soars more than 13% this month

COMEX Gold futures stayed in winning mode, marking a fifth consecutive weekly advance. Safe-haven demand strengthened amid volatility across currency and bond markets, while rising oil prices added to inflation concerns. Gold?s rally accelerated after the US Treasury announced plans to at least double long-term debt buybacks. The US dollar index tanked under 99 mark to test lowest in three months, boosting dollar-denominated gold. Gold added around 5% for the week and managed to hit around three-month high near $4660 per ounce. The counter zoomed around 13.50% in first three-weeks of August. India?s Gold demand is picking up after recent price correction. India's Gold imports came in at Rs 39893 crore in value terms in July 2026, gaining around 16.60% compared to July 2025. Silver imports continued to fall though. Gold imports value in first four months of FY27 jumped by 46.50% on year to Rs 143880 crore. MCX Gold futures broke above Rs 160000 per 10 grams following the acceleration in global prices and ended around Rs 162400 per 10 grams.

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