Comex Gold Jumps About 4% to $4,247.1, Notching Largest Daily Gain Since March
Front-month Comex gold for August delivery surged to $4,247.1 per troy ounce, or about 4% gain, to mark its biggest one-day dollar advance since March 2026 and its highest settlement since mid-June.
Comex gold price staged a powerful rally on Tuesday, with the front-month August contract leaping about 4% to settle at $4,247.1 per troy ounce.
The move represents the largest gain since March 25, 2026, and the biggest percentage jump since February 3, 2026. The precious metal has now been steadily climbing from the low of $3900-ish just less than a month ago.
Tuesday's settlement marks the highest closing value for gold since June 17, 2026. Still, the metal remains 20.17% below its 52-week peak of around $5,318.40 reached on January 29, 2026, a level that also stands as the all-time record high.
From a broader perspective, gold sits 28.14% above its 52-week trough of $3,313.40 recorded on August 19, 2025, and has risen 25.62% compared to just one year ago.
Year-to-date performance remains negative, with the precious metal down about 1.49%-ish since the start of 2026.
The recent rally comes as easing geopolitical tensions around the Strait of Hormuz. What makes the rally even more impressive is how there are certain expectations that the Fed may have to increase the interest rates if inflation keeps going strong in the U.S, and yet gold defies these expectations in the recent days.
Related assets: Gold, Silver, Palladium, Platinum