Gold futures top $4,200 for first time since July 6
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Gold futures on the Comex exchange breached $4,200 per troy ounce on August 5, topping the level for the first time since July 6. The December delivery contract rose 1.15% to $4,200.4 by 10:24 Tashkent time, then extended gains to $4,201.9, up 1.19%.
The Breach
Gold futures for December delivery on the Comex exchange topped $4,200 per ounce on August 5, the first time since July 6. The contract rose 1.15% to $4,200.4 by 10:24 Tashkent time, then accelerated to $4,201.9 within seven minutes. The move pushed gold to its highest level in nearly a month.
Trading Session
The price surge occurred during Asian trading hours on Comex, with the December contract breaking through the psychologically significant $4,200 mark. By 10:31, the price had climbed further to $4,201.9, representing a 1.19% gain on the session. The December contract is the most actively traded gold futures contract on Comex, with deliveries set for later this year.
What's Next
Investors now look ahead to U.S. inflation data due this week for clues on the Federal Reserve's next policy move. It remains unclear whether gold can hold above $4,200 if the dollar strengthens in response to the data.
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Gold futures top $4,200 for first time since July 6
