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(16 Apr 2025, 13:20)

COMEX Gold breaks above $3300 per ounce, all eyes on Fed's Powell

COMEX Gold futures spiked above $3300 per ounce to strike a fresh all time high as weak US dollar boosted the sentiments. Furthermore, investors remain worried about the potential economic fallout amid the ongoing US tariff chaos, which continues to prop up demand for the safe-haven precious metal. The metal spiked 2.25% to trade at $3313 per ounce right now. COMEX Gold has rallied around 5.20% this month so far. The US dollar index remained glued to a multi-year low around 99.20 mark, keeping Gold elevated amid choppy equities. The focus has shifted to comments from the US Federal Reserve Chair Jerome Powell when he speaks at The Economic Club of Chicago later on today. The spike in global Gold prices has pushed up MCX Gold futures to a fresh high of Rs 95000 per 10 grams, marking a spike of around 1.66% on the day.
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