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Commodity News

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(21 May 2025, 08:59)

Previous Metals Preview: COMEX Gold spikes above $3300 per ounce mark

COMEX Gold rebounded sharply as a bounce from five-week lows extended amid moderating treasury yields and steady demand hopes. Geopolitical worries stayed in place though the Russia-Ukraine ceasefire talks are a welcome development and could keep a lid on Gold. The UK and EU have announced extra sanctions on Russia. Russian foreign ministry spokeswoman has said it's up to Ukraine whether talks continue. Maria Zakharova said Kyiv must decide if it will cooperate on forming a memorandum ahead of a future peace deal. COMEX Gold futures are holding onto bounce above $3200 per ounce and a massive spike has now pushed it above $3300 per ounce. The metal trades at $3307 per ounce, up 0.70% on the day. These are the best levels in last two weeks for the commodity. Gold soared around 1.60% in last session.
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