GlobeVerge
INDIA
Gold futures slip for 7th day, drop to Rs 1.5 lakh/10g amid US-Iran tensions
Gold futures declined for the seventh straight session, falling over 1 per cent on MCX amid escalating US-Iran military tensions. Rising oil prices heightened inflation and interest-rate concerns, while investors await US employment data for clues on the Federal Reserve’s monetary policy
GlobeSignal-AImedium certainty
- Why it matters
- Higher oil prices and inflation concerns are pushing investors toward fixed-income assets over commodities, while Fed policy uncertainty creates additional downward pressure on gold.
- Most affected
- Gold futures traders and speculators on MCX — Positions in decline; losses if holding long contracts into further weakness.
Indian gold buyers — Lower domestic gold prices may increase purchase demand if decline continues. - Likely next
- Whether gold rebounds after the US employment data release, which typically influences Federal Reserve rate expectations.
Also reported by: Free Press Journal