Gold futures rise 1% to $4,361 as COMEX volume climbs

Gold futures rose 1.01% to $4,361.10 per ounce on COMEX on June 16, recovering from an intraday low of $4,326.70.

"Gold found support near the $4,330 level as buyers absorbed selling pressure through the morning session," Omar Tariq, commodities analyst at Edgen, said.

The session high of $4,370.60 marked the upper bound of a $43.90 trading range, with volume reaching 36,514 contracts. The open at $4,331.30 established the day's floor near the $4,330 handle, a level that has held as support in recent sessions. The close at $4,361.10 represents a 0.7% gain from the open, with the metal spending most of the session in positive territory.

Gold's close above $4,360 puts the metal within 0.2% of the $4,370 resistance zone. The next catalyst for direction will be the weekly COMEX inventory data and US economic releases later this week, including initial jobless claims and housing starts data that could influence the dollar and real yields.

COMEX Volume Rises as Gold Holds $4,360

The 36,514 contracts traded on June 16 reflect active participation in the gold futures market, with turnover concentrated in the front-month August contract. Gold's intraday amplitude of $43.90 represents a 1.01% swing from low to high, consistent with moderate volatility for the precious metal. The volume figure compares with the recent 20-day average, indicating steady institutional interest in the yellow metal.

Key Levels in Focus

The $4,326.70 low tested support near the $4,330 area, while the $4,370.60 high approached resistance ahead of the $4,375 level. A close above $4,370 would target the next resistance zone near $4,400, according to COMEX market data. On the downside, a break below $4,326 would open the path toward the $4,300 support level, a threshold not tested since early June.

Gold at $4,361.10 per ounce is trading above its 50-day moving average and compares with the all-time high above $4,500 set earlier in 2026. Among precious metals peers, silver and platinum also posted gains during the session, reflecting broad-based demand for safe-haven assets during a period of macroeconomic uncertainty. The dollar index edged lower on the day, providing additional support for dollar-denominated gold prices. Gold has gained approximately 12% year-to-date in 2026, supported by sustained central bank buying and elevated geopolitical risk premiums that continue to underpin demand for the metal.

This article is for informational purposes only and does not constitute investment advice.