India’s 24K gold holds near ₹1.43 lakh on June 29 as spot gold slips 0.8% to $4,057.77
AI Market Summary
Escalating US-Iran tensions around the Strait of Hormuz lifted crude prices, stoking inflation concerns and reinforcing expectations for further Fed tightening. Higher real-rate expectations weighed on non-yielding assets, pushing spot gold down about 0.8% to $4,057.77/oz and positioning gold for a fourth straight monthly decline. Indian retail gold and silver prices were broadly stable across major cities, but the global macro impulse remains a headwind for bullion.
Impact level
● Medium
Affected assets
NCCOGOLD2USD/USDT-0.29%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▼ Bearish
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On June 29, rising tensions between the United States and Iran around the Strait of Hormuz pushed international crude oil prices higher, stoking inflation worries and reinforcing expectations of further U.S. Federal Reserve rate hikes. Spot gold fell 0.8% to $4,057.77 per ounce, marking a fourth consecutive monthly decline. In India, 24K gold was priced at about ₹1.43 lakh per 10 grams, while silver held at ₹2,193.50 per 10 grams.
