Gold sees modest losses after impressive spurt in recent weeks

COMEX Gold futures paused around three-month high as US dollar edged up marginally. Gold has been in excellent form in last few weeks. 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 has zoomed around 14% in this month so far. 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. COMEX Gold futures are currently trading at $4686 per ounce, down 0.23% on the day. MCX Gold futures are also trading down 0.24% at Rs 162833 per 10 grams after hitting Rs 163800 per 10 grams.

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