MCX gold August futures slide 0.77% to Rs 1,41,280 per 10 grams; silver September falls Rs 4,116
AI Market Summary
Gold and silver weakened as Fed rhetoric re-centered markets on the risk of further tightening, with officials noting policy may not be sufficiently restraining growth and could require additional hikes to curb inflation. This lifts real-rate expectations and pressures non-yielding metals, outweighing limited geopolitical support as US-Iran talks have not materially increased risk premia despite lingering Strait of Hormuz uncertainty.
Impact level
● Medium
Affected assets
NCCOGOLD2USD/USDT-1.40%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▼ Bearish
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MCX gold August futures fell 0.77% to Rs 1,41,280 per 10 grams on July 1, while MCX silver September futures slid 1.8% to Rs 2,24,447 per kg. Spot gold dipped below $3,980 an ounce, marking its lowest level since November. Prices were pressured as traders weighed prospects of tighter Federal Reserve policy and followed US-Iran talks.
