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CNBC TV18

MCX gold and silver futures slide to ₹1.45 lakh/10g and ₹2.22 lakh/kg on July 9

AI Market Summary
Gold and silver fell as West Asia escalation lifted oil and the USD, while Fed minutes reinforced the possibility of further US tightening. Higher yields and a stronger dollar raise the opportunity cost of holding non-yielding bullion, outweighing near-term safe-haven support. Near-term pricing is framed by US rate expectations, USD strength, and Treasury yields, with participants watching incoming US data for policy signals.
Impact level
● Medium
Affected assets
NCCOGOLD2USD/USDT+0.14%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▼ Bearish
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MCX gold and silver futures fell on Thursday, with the benchmark August gold contract at ₹1.45 lakh per 10 grams and silver around ₹2.22 lakh per kg. The move followed renewed West Asia tensions after fresh US strikes on Iran lifted oil prices and the US dollar index. Markets also digested the Federal Reserve’s June meeting minutes, which reinforced expectations of higher US rates and weighed on non-yielding bullion. Analysts expect gold to stay range-bound in the second half of 2026, though near-term pressure from higher US yields and a firmer dollar remains pronounced.
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