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Gold price surpasses $4,500 per troy ounce first since June 5
Gold prices extended their rally, with Comex futures surpassing $4,700 per troy ounce for the first time since mid-May, after the US Treasury announced higher buybacks of long-term government bonds. Domestic markets on MCX showed mixed trading, with gold recovering from a weak start while silver slipped. The moves come amid shifting expectations for US monetary policy and persistent safe-haven demand.
Gold prices extended their upward trajectory this week, with futures on the Comex exchange climbing above $4,700 per troy ounce for the first time since May 14, according to trading data. The precious metal has been buoyed by the US Treasury's unexpected announcement of higher buybacks of long-term government bonds, which tends to support gold as a hedge against inflation and currency weakness.
Business Standard reported that gold was trading near $4,700 per ounce on Comex, up $25.70 from the previous close at the time of writing. The report attributed the rise to the Treasury's move, which it said came as a surprise to markets.
Meanwhile, gold for December delivery on Comex had already crossed the $4,600 mark on August 21, the first time since May 29, according to TASS. By August 24, October contracts had risen above $4,700, with trading data showing a gain of 0.77% to $4,713.8 per ounce.
Domestic markets show mixed trading
In India, the Multi Commodity Exchange (MCX) saw a volatile session. Gold futures opened lower at ₹1,62,052 per 10 grams, down ₹386 from the previous close, but recovered to trade at ₹1,63,570, up ₹1,132, according to Business Standard. The session saw a high of ₹1,63,585 and a low of ₹1,62,001.
Silver, on the other hand, showed weakness on the MCX. The September silver contract opened at ₹2,45,597 per kg, down ₹1,000, and was trading at ₹2,46,136, down ₹461 at the time of writing. On Comex, silver also slipped, trading at $69.16 per ounce, down $0.37 from the previous close.
Silver's divergence and market context
While gold has been supported by the bond buyback news, silver's performance has been more subdued. On Comex, silver futures for September delivery were up just 0.57% to $68.49 per troy ounce on August 21, according to TASS, lagging gold's gains. This divergence suggests investors may be favoring gold as a safer bet amid global economic uncertainty.
Silver's weakness could be attributed to its dual role as both a precious and industrial metal. Concerns about global growth and industrial demand may be weighing on the metal, even as gold benefits from safe-haven flows.
The price levels are a significant move for gold, which has been on a steady climb. TASS reported that December gold futures on Comex had earlier crossed the $4,500 mark on August 12, the first time since June 5, indicating a rapid acceleration in the past two weeks.
How each outlet told it
Business Standard
Framing: Emphasizes gold crossing $4,700 on Comex and silver trading above $69, with a specific driver: US bond buybacks. Headline also highlights domestic market (MCX) prices. — objective/reportorial, with a focus on market data and a clear causal explanation.
Facts Included:
Gold prices rose on Monday after the US Treasury unexpectedly announced higher buybacks of long-term government bonds
Gold was trading near $4,700 per ounce on Comex, silver around $69 per ounce
On MCX, gold futures were trading near ₹1,63,550 per 10 gram, silver futures around ₹2,46,150 per kg
Gold futures opened lower on MCX: October contract opened at ₹1,62,052, down ₹386 from previous close of ₹1,62,438
At time of writing, gold contract was at ₹1,63,570, up ₹1,132; session high ₹1,63,585, low ₹1,62,001
Gold futures had touched highest level of the year at ₹1,80,779
Silver futures opened lower: September contract opened at ₹2,45,597, down ₹1,000 from previous close of ₹2,46,597
At time of writing, silver was at ₹2,46,136, down ₹461; session high ₹2,46,475, low ₹2,44,815
Silver futures had touched highest level of the year at ₹4,20,048 per kg
On Comex, gold opened at $4,673.40; previous close $4,680.60; at time of writing $4,706.30, up $25.70
Gold prices had touched highest level of the year at $5,586.20 per ounce
Comex silver opened at $69.34; previous close $69.53; at time of writing $69.16, down $0.37
Silver prices had touched highest level of the year at $121.79 per ounce
MCX and Comex prices are in different units: MCX gold in rupees per 10 gram, MCX silver in rupees per kg; Comex in dollars per ounce
Framing: Highlights the gold futures price topping $4,600 per troy ounce, first time since May 29. Does not mention any causal factors or broader market context. — neutral/objective — 'according to trading data' with no evaluative language.
Facts Included:
Gold futures for December delivery on Comex exceeded $4,600 per troy ounce for the first time since May 29, 2026
As of 4:35 a.m. Moscow time (1:35 a.m. GMT), gold was up 1.21% to $4,600.3 per troy ounce
By 4:45 a.m. (1:35 a.m. GMT) the growth slowed down to $4,583.5 per troy ounce (+0.84%)
Silver futures for September delivery rose by 0.57% to $68.49 per troy ounce
Framing: Emphasizes gold surpassing $4,700 per troy ounce, first since May 14. Headline does not mention the drone story that follows in the body. — neutral/objective for gold, but the drone item is presented as fact from the defense ministry with no counter-perspective.
Facts Included:
Gold futures for October 2026 delivery on Comex rose above $4,700 per troy ounce for the first time since May 14, 2026
As of 5:10 a.m. Moscow time (2:10 a.m. GMT), gold was up 0.55% at $4,706.4 per troy ounce
By 5:30 a.m. Moscow time (2:30 a.m. GMT), the price extended gains to 0.77% at $4,713.8 per ounce
Nearly 270 Ukrainian drones taken down over Russian regions during the day
Russian air defense systems intercepted and destroyed Ukrainian fixed-wing UAVs over Crimea, Arkhangelsk, Belgorod, Bryansk, Kaluga, Kursk, Oryol, Rostov, Smolensk, Tula, Moscow, and Krasnodar Regions, and the Black Sea
Framing: Highlights gold surpassing $4,500 per troy ounce, first since June 5. Does not mention any causal factors. — neutral/objective — 'according to trading data', no evaluative language.
Facts Included:
Gold futures for December 2026 delivery on Comex rose above $4,500 per troy ounce for the first time since June 5, 2026
As of 4:00 p.m. Moscow time (1:00 p.m. GMT), gold was up 1.39% at $4,502.7 per troy ounce
By 4:05 p.m. Moscow time (1:05 p.m. GMT), gold narrowed gains to 1.11% at $4,490.5 per ounce
Silver futures for September 2026 delivery were up 2.26% at $66.4 per troy ounce
Each row is one claim, attributed to the outlet whose wording states it most clearly. Confidence rates how directly the source text states the claim — explicit and unhedged rates high; hedged, pieced-together, or internally inconsistent statements rate lower. It does not measure whether the claim is true. Status counts the distinct outlets we found asserting it — so a single-source claim can still show high confidence, and a multi-source claim can show medium. Every one of those outlets is named beside the status, so you can check the count against the list. For claims extracted before we began storing that list, the row says so: it names the outlet the claim is quoted from and states that we have not recorded which outlets backed it. Outlets wrote at different times, so a figure that evolves — a casualty count, for example — can legitimately differ between rows; check the "as of" time next to each claim's source.
Claim
Confidence
Status
ClaimGold futures for December delivery on the Comex exchange exceeded $4,600 per troy ounce for the first time since May 29, 2026.
ClaimRussian air defense systems intercepted and destroyed Ukrainian fixed-wing unmanned aerial vehicles over Crimea, the Arkhangelsk, Belgorod, Bryansk, Kaluga, Kursk, Oryol, Rostov, Smolensk, Tula, Moscow, and Krasnodar Regions, and the Black Sea.
ClaimGold futures opened lower on MCX: the benchmark October gold contract opened at ₹1,62,052 per 10 gram, down ₹386 from the previous close of ₹1,62,438.
ClaimSilver futures opened lower: the benchmark September silver contract on MCX opened at ₹2,45,597 per kg, down ₹1,000 from the previous close of ₹2,46,597.
ClaimAt the time of writing, the MCX September silver contract was trading at ₹2,46,136, down ₹461; the session high was ₹2,46,475 and the low ₹2,44,815.
ClaimOn Comex, gold opened at $4,673.40 per ounce; the previous closing price was $4,680.60; at the time of writing, gold was trading at $4,706.30 per ounce, up $25.70.
ClaimComex silver opened at $69.34 per ounce; the previous closing price was $69.53; at the time of writing, silver was trading at $69.16 per ounce, down $0.37.
ClaimMCX gold futures prices are in rupees per 10 gram, MCX silver futures prices are in rupees per kg, and Comex gold and silver futures prices are in dollars per ounce.