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Precious Metals Preview: Gold slips half a percent in Asia, holds near one month low
04-May-2026 08:56
COMEX Gold futures continue to ease amid firm US dollar after US President Trump appeared dissatisfied with Iran's latest proposal to end the war. The yellow metal is near one-month low. There are some worries over Gold demand trends as well. World Gold Council or WGC has stated that total Q1 2026 global gold demand, including OTC, was 2% higher y/y at 1,231 tonnes (t). This modest growth in volumes combined with gold's exceptional price rise, generated a 74% jump in the value of quarterly demand to a record US$193bn. WGC further noted that the global supply of gold increased in Q1 by 2% y/y to 1,231t. Modest growth in mine production together with a 5% uptick in recycling generated the increase. MCX Gold futures closed flat at Rs 151360 per 10 grams on last session and are likely to open on a tepid note today as COMEX Gold futures are down 0.53% at $4621 per ounce.

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