Gold is witnessing tepid moves after a sharp rally in last session. COMEX Gold futures saw a solid jump after the US Federal Reserve Chair Jerome Powell has hinted at a possible interest rate cut in September. With policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance, according to Powell. COMEX Gold futures bounced back above $3400 per ounce swiftly following this and hit one and half week high of $3420 per ounce. The metal eased today and currently trades slightly lower at $3412 per ounce. Gold prices are generally holding up well in last few days despite selling pressure on rallies as geopolitical scenario remained in focus and broad tariff worries also weighed, COMEX Gold futures are up around 2% in August 2025. MCX Gold futures are trading flat at Rs 100435 per 10 grams.

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