Gold futures breach $4,150 on Comex for first time since July 22
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Gold futures on the Comex exchange exceeded $4,150 per troy ounce early Thursday for the first time since July 22, according to trading data. The August delivery contract rose as much as 2.79% to $4,151.5 before paring some gains.
The Price Breakout
The August gold futures contract on the Comex exchange rose to $4,151.5 per troy ounce at 05:06 Baku time (01:06 GMT), marking a 2.79% increase. It was the first time the contract had breached the $4,150 level since July 22. The rally pushed gold prices to their highest intraday level in over a week.
Intraday Trading
By 05:35 Baku time, the contract had eased to $4,146 per ounce as morning trading progressed. The earlier surge came during relatively thin Asian trading hours, amplifying price moves. Trading volumes were not immediately available.
What's Next
Gold traders will monitor upcoming U.S. economic data for clues on the Federal Reserve's next interest rate move. Whether gold can sustain its gains above the $4,150 threshold remains uncertain.
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Gold futures breach $4,150 on Comex for first time since July 22
