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Commodity News Details
COMEX Gold off six-week low but $4600 levels cap upside
19-May-2026 13:03
COMEX gold futures tested six-week low near $4480 per ounce after US President Donald Trump announced he was delaying a planned military strike on Iran supported the metals. Improvement in risk appetite and a mild drop in the US dollar index supported the metal today though highs around $4600 per ounce capped upside in Asia today. The metal is currently quoting at $4552.40 an ounce, down marginally on the day. Overall mood is volatile for the metal as markets eye Indian demand trends following recent measures directed at curbing imports. MCX Gold futures are trading at Rs 159802 per 10 grams, up 0.25% on the day. The price action is choppy today as the counter fell in negative zone in early moves before witnessing steady gains amid sustained weakness in the Indian Rupee.

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