Gold Futures Surge Past $4,200, Then Retreat Below $4,000
Gold futures have experienced sharp swings on the Comex exchange over the past two weeks, according to trading platform data reported by TASS. After climbing above $4,200 per troy ounce for the first time since late June, prices subsequently fell below $4,000, marking a notable period of volatility.
Coverage Comparison
All reporting on this story comes from TASS, which has published multiple updates tracking the gold market's movements. The reports show a clear arc: a rise to record levels followed by a sharp decline.
On July 2, TASS reported that gold futures with delivery in August 2026 climbed above $4,150 per troy ounce on the Comex exchange for the first time since June 23. At that time, gold prices had gained 1.76% to $4,154.2 per troy ounce. The report also noted that gold futures slowed in their growth to $4,138.1 per ounce (+1.36%), and that silver futures with settlement in September gained 2% to $61.72 per troy ounce.
The following day, July 3, TASS reported that gold futures had climbed further, crossing the $4,200 threshold for the first time since June 22. As of 4:24 a.m. Moscow time, gold had gained 1.96%, reaching $4,206.7 per troy ounce. By 4:28 a.m., the growth had slowed slightly, with gold trading at $4,205.4 per troy ounce (+1.93%).
However, this upward trend reversed sharply by July 13. TASS reported that the price of August futures for gold fell below $4,000 per troy ounce for the first time since July 1, according to market data. As of 7:55 p.m. Moscow time (4:55 p.m. GMT), gold was down 2.94%, trading at $3,992.9 per troy ounce. By 8:25 p.m. Moscow time (5:25 p.m. GMT), futures had pared some losses, trading at $4,004 per troy ounce (-2.67%).
The price swings suggest that gold remains sensitive to market conditions, with trading platform data serving as the primary source of information. TASS's reports did not provide additional context for the moves, such as economic indicators or geopolitical events that might have influenced the price action.
Key Claims
- Gold futures with delivery in August 2026 climbed above $4,200 per troy ounce on the Comex exchange for the first time since June 22, gaining 1.96% to reach $4,206.7 per troy ounce (as reported by TASS).
- Gold futures slowed in their growth, trading at $4,205.4 per troy ounce (+1.93%) shortly after reaching the peak.
- The price of August futures for gold fell below $4,000 per troy ounce for the first time since July 1, with gold down 2.94% at $3,992.9 per troy ounce (as reported by TASS).
- Gold futures pared some losses, trading at $4,004 per troy ounce (-2.67%) after the initial decline (as reported by TASS).
- Prior to the peak, gold futures had climbed above $4,150 per troy ounce on July 2, gaining 1.76% to $4,154.2 per troy ounce (as reported by TASS).
- Silver futures with settlement in September 2026 gained 2% to $61.72 per troy ounce at the same time (as reported by TASS).