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Commodity News

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(27 Nov 2025, 09:11)

Precious Metals Preview: COMEX gold losing momentum from two-week high


COMEX gold is losing sheen in early Asia on Thursday amid possible profit taking at higher levels. The counter is easing slightly after hitting a two-week high supported by downside in DXY on rising hopes of a Federal rate cut. Thin trading volumes on the back of the Thanksgiving holiday in the US is also weighing on the yellow metal that is currently quoting t $4180.50 an ounce, down half a percent on the day. Moreover, a mixed set of US economic indicators released this week did little to alter market expectations that the US Federal Reserve (Fed) will cut interest rates again at its December policy meeting. Recent comments from top Fed officials are also strongly in favor of another quarter-point reduction at the December 9-10 FOMC meeting.

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