Delhi gold drops Rs 800 to Rs 1.48 lakh per 10 grams as crude surges and global cues weaken
AI Market Summary
Gold weakened for a third session as a sharp crude spike tied to renewed US-Iran tensions lifted inflation expectations, pushing US Treasury yields and the dollar higher—a negative macro mix for non-yielding bullion. International spot gold fell ~1.2%, with local India prices down Rs 800/10g. Markets are also positioned ahead of pending Fed minutes, which could reinforce rate-path uncertainty and near-term pressure on precious metals.
Impact level
● Medium
Affected assets
NCCOGOLD2USD/USDT-0.09%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▼ Bearish
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Gold prices in India fell for a third straight session, sliding Rs 800 to Rs 1,48,450 per 10 grams, while spot gold slipped 1.2% to USD 4,056.24 an ounce. The drop followed a near 7% jump in crude oil after US President Donald Trump said the interim peace agreement with Iran was “over,” rekindling fears of a wider Middle East conflict. Higher oil prices lifted US Treasury yields and the dollar index, weighing on bullion. Silver prices were unchanged, and investors were awaiting the release of the Federal Reserve’s June FOMC minutes later in the day.
