Gold Price Hits Two-Month High Amid Volatility

The gold price has reached a two-month high on the Comex market at $4,495/oz, marking a 1.7% increase before retreating to $4,440 due to rebounding US crude prices.

Spot gold sits around $4,395, just $25 above the technical support band flagged by Saxo Bank's Ole Hansen between $4,360 and $4,370/oz.

Major gold miners showed muted responses, with Agnico Eagle increasing 1.2%, Gold Fields decreasing 2.2%, and Harmony Gold off 2.5%.