(07 Mar 2026, 12:11)

Weekly Gold Review: COMEX futures see volatile moves, close just under $5200 per ounce

Gold failed to sustain at one-month highs as COMEX futures stayed under pressure in volatile trades. The metal had spiked to $5400 per ounce at the start of the month as safe-haven demand increased amid the escalating Middle East conflict with fresh missile and drone strikes across the Gulf, though the same tensions also lifted the dollar and weighed on bullion prices. The counter closed around $5180 per ounce, down 1.30% for the week. However, broad sentiments are supported for the commodity amid firm investment demand. World Gold Council or WGC stated that global gold ETFs added US$5.3 billion (bn) in February, extending their ninth straight month of inflows and marking the strongest two month start to a year on record. Total AUM climbed to a new all-time high of US$701bn, with global holdings reaching 4,17 tonnes as rising gold prices continued to lift valuations. North America and Asia drove inflows, while Europe saw early month outflows tied to the late January sell off; global trading volumes eased to US$478bn/day but remained well above 2025 levels. MCX Gold futures ended around Rs 161675 per 10 grams with lows around Rs 159000 per 10 grams offering a decent support to the counter.

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Weekly Gold Review: COMEX futures see volatile moves, close just under $5200 per ounce