MCX July gold futures slip 0.37% to Rs 1,43,630 per 10 grams as US-Iran tensions ease
AI Market Summary
Gold weakened as markets interpreted US-Iran Gulf strikes as not escalating and a ceasefire trend holding, reducing near-term safe-haven demand. MCX gold fell 0.37% and spot gold dropped up to 0.9% after a prior rebound, consistent with fading geopolitical risk premium. Softer risk hedging also aligns with tempered expectations for further rate hikes, limiting support from monetary-policy uncertainty.
Impact level
● Medium
Affected assets
NCCOGOLD2USD/USDT-1.40%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▼ Bearish
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On June 29, MCX gold July futures fell 0.37% to Rs 1,43,630 per 10 grams, while MCX silver July futures edged up 0.09% to Rs 2,21,600 per kg. The pullback came as safe-haven demand cooled after the US and Iran exchanged attacks in the Persian Gulf but markets viewed the conflict as not escalating and the ceasefire as holding. In the global market, spot gold slipped as much as 0.9% after rising 1.6% on Friday, according to data collected by Bloomberg.
