Gold futures climb 1.7% to $4,189.70 in largest intraday gain

Gold futures posted their largest intraday gain on July 3, rising 1.7% to close at $4,189.70 per ounce on COMEX.

The move represented the biggest single-day advance for GC=F during the session, according to exchange data. The contract opened at $4,138.00, touched a low of $4,133.80 and a high of $4,208.30, producing an intraday range of $74.50.

Volume reached 22,213 contracts as prices rallied from the open. The session low of $4,133.80 came near the open before buying pressure pushed prices $70.30 higher to the $4,208.30 peak. Gold settled at $4,189.70, just $18.60 below the high, reflecting sustained demand through the session. The close at the upper end of the range, near 99.6% of the session high, indicated buyers maintained control into the settlement.

The $4,189.70 close keeps gold above the $4,100 level, which now serves as a near-term support reference. The $4,208.30 session high becomes the immediate resistance level for traders to watch. The metal's ability to hold gains above $4,100 in the coming sessions will determine whether the July 3 rally marks the start of a sustained move higher or a one-day event.

This article is for informational purposes only and does not constitute investment advice.