(31 May 2025, 14:36)

Weekly Gold Review: COMEX futures see choppy moves, holds $3300 per ounce mark

COMEX Gold futures saw choppy trades, testing one and half week lows around $3270 per ounce as easing trade tensions curbed demand for safe-haven assets. US interest rates trajectory also played a part in pulling the metal lower after Fed’s May meeting minutes revealed a cautious approach, with policymakers highlighting elevated risks of both inflation and unemployment. Gold gained thereafter amid a sustained weakness in the US dollar and hopes of steady undertone in demand. The Reserve Bank of India’s gold reserves rose 57.48 metric tonnes YoY to 879.58 tonnes as of March 31, 2025. Value of gold imports in India also gained by 27.4 per cent (y-o-y) in 2024-25 to US$ 58.0 billion, driven by higher international prices even as total volume contracted, the central bank noted. The metal ended around $3310 per ounce, ending the month of May 2025 on a flat note. MCX Gold futures saw a mostly weak price action over last few days as a slide under Rs 97000 per 10 grams extended.

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Weekly Gold Review: COMEX futures see choppy moves, holds $3300 per ounce mark