COMEX gold rises above $3,840 per ounce, up 0.82% intraday.

COMEX gold rises above $3,840 per ounce, up 0.82% intraday.

COMEX gold for September delivery surged above $3,840 per ounce today, marking a significant intraday gain of 0.82%. This upward movement comes on the heels of a robust performance over the past two sessions, with the precious metal experiencing its largest one-day and two-day dollar and percentage gains since September 2025 .

The price increase is notable as it follows a period of volatility driven by geopolitical uncertainties and shifts in trade policies, particularly those related to gold imports. In the second quarter of 2025, Switzerland's current account surplus halved due to fluctuations in gold exports, influenced by fears of U.S. President Donald Trump's tariff policies . The removal of gold from Trump's broad import tariffs in April led to some gold outflows back to Switzerland and Britain from the U.S., further impacting global gold flows .

The recent price surge in COMEX gold could be attributed to several factors, including the stabilization of global trade policies and a potential increase in demand for safe-haven assets. As of today, gold has been on a steady upward trajectory, rising 45.80% from its 52-week low of $2,565.70 hit in November 2024 and 42.28% year-to-date .

Analysts suggest that the current stabilization in gold flows and the removal of tariff risks may contribute to a more balanced trade between Switzerland and the U.S. in the coming months. However, the long-term impact of these changes remains to be seen, with gold prices continuing to be influenced by geopolitical events and market sentiment.