COMEX Gold futures scaled up a fresh all time high of $4970 per ounce today as sentiments remained extremely upbeat for precious metals. The counter rose around 1.60% in last session and currently trades at $4917 per ounce, up 0.08% on the day. The US inflationary trends remained lax as personal consumption expenditures (PCE) price index rose by 0.2% in November, matching the growth seen in October. The US dollar index fell near two-week low of 98 following this and Gold stayed well supported on intense fund buying. Precious metals speculators continued to raise their net long position in the Gold futures, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC). The non-commercial futures contracts of Gold futures, traded by large speculators, hedge funds and retailers, totaled a net position of 251238 contracts in the data reported through January 13, 2026, recording a jump of 23606 contracts from the previous week. The net longs have spiked to three and half month high now. On MCX, Gold futures are trading at Rs 156746 per 10 grams, up 0.26% on the day.
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