coin-img-BTCBTC+0.68%coin-img-ETHETH+2.06%coin-img-SOLSOL+0.63%coin-img-USDCUSDC+0.01%coin-img-XRPXRP+1.45%coin-img-TRXTRX+0.33%coin-img-LABLAB-27.62%coin-img-HYPEHYPE-0.44%coin-img-BTCBTC+0.68%coin-img-ETHETH+2.06%coin-img-SOLSOL+0.63%coin-img-USDCUSDC+0.01%coin-img-XRPXRP+1.45%coin-img-TRXTRX+0.33%coin-img-LABLAB-27.62%coin-img-HYPEHYPE-0.44%coin-img-BTCBTC+0.68%coin-img-ETHETH+2.06%coin-img-SOLSOL+0.63%coin-img-USDCUSDC+0.01%coin-img-XRPXRP+1.45%coin-img-TRXTRX+0.33%coin-img-LABLAB-27.62%coin-img-HYPEHYPE-0.44%coin-img-BTCBTC+0.68%coin-img-ETHETH+2.06%coin-img-SOLSOL+0.63%coin-img-USDCUSDC+0.01%coin-img-XRPXRP+1.45%coin-img-TRXTRX+0.33%coin-img-LABLAB-27.62%coin-img-HYPEHYPE-0.44%
user-avatar
Free Press Journal

MCX August gold futures slide Rs 2,308 to Rs 1,43,084 per 10 grams as crude rallies and dollar firms

AI Market Summary
Gold futures sold off in India and on Comex as a crude oil surge tied to escalating Middle East tensions lifted inflation concerns and supported the US dollar, reducing demand for non-yielding precious metals. Positioning is also cautious ahead of Fed June minutes, which could clarify the rate path. Near-term, higher energy-driven inflation risk and USD strength are the key headwinds for gold.
Impact level
● Medium
Affected assets
NCCOGOLD2USD/USDT+0.26%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▼ Bearish
Trade now
⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.
On July 8, India’s MCX gold futures for August delivery fell Rs 2,308 (1.59%) to Rs 1,43,084 per 10 grams. In New York, Comex August gold futures dropped USD 94.69 (2.28%) to USD 4,062.71 per ounce. The decline came as escalating geopolitical tensions in the Middle East lifted crude oil prices, pushing up inflation expectations and the US dollar index, weighing on gold’s appeal as a non-yielding asset.
Disclaimer: The content above is only the author's opinion and does not represent BingX’s stance. It shall not be construed as investment advice from BingX. For details, refer to the Terms and Conditions.
Commodity

Risk Warning

Cryptocurrencies and their derivatives are innovative financial products with great volatility and high investment risks.

Although BingX is committed to providing users with easy-to-use trading tools, trading itself is still a highly sophisticated field. Trading digital assets and their derivatives are subject to high market risk and price volatility and may result in partial or total loss of account funds. You must carefully consider and exercise clear judgment to evaluate your financial situation and the aforementioned risks before using BingX Services. You shall be responsible for all losses arising therefrom. If necessary, please consult relevant professionals to make informed decisions before investing. By accessing, downloading, using or clicking on "I agree" to accept any BingX Services provided by BingX, you agree that you have read, understood and accepted all of the terms and conditions stipulated in BingX Terms of Use as well as our Privacy Policy.


Trading by copying or replicating the trades of other traders involves a high level of risks, even when copying or replicating the top-performing traders. Past performance of a BingX community member is not a reliable indicator of his future performance. Content on BingX's trading platform is generated by members of its community and does not contain advice or recommendations by or on behalf of BingX.