COMEX gold futures opened with a 1.05% gap at $4,575.20 on June 1 before closing at $4,527.70. The session ranged from $4,522.10 to $4,577.30 on volume of 27,774 contracts. The $4,500 support level is the key near-term floor to watch.
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COMEX gold opens with 1.05% gap, closes lower at $4,527.70
COMEX gold futures opened with a 1.05% gap at $4,575.20 an ounce on June 1, before reversing to close at $4,527.70, down 1% from the open, exchange data shows.
The session high of $4,577.30 was reached shortly after the open, followed by a selloff that pushed prices to a low of $4,522.10. Volume totaled 27,772 contracts as traders digested the gap opening against a backdrop of macro uncertainty.
The $4,527.70 close places gold roughly $28 above the key $4,500 support level. The session range of $55.20 — from $4,522.10 to $4,577.30 — reflects intraday volatility as the initial gap failed to hold. The opening gap of 1.05% was the largest single-session gap for COMEX gold in the past week.
The $4,500 level now serves as the primary near-term floor. A break below would mark the first test of that threshold since late May. The next major catalyst for gold prices is the Federal Reserve's rate decision, which will influence the dollar and real yields, two primary drivers of gold demand.
This article is for informational purposes only and does not constitute investment advice.
