Gold slips below Rs 1.44 lakh; COMEX falls 0.41% to $4,078 an ounce
AI Market Summary
Gold and silver traded lower as a stronger US dollar and higher Treasury yields outweighed limited safe-haven support from renewed US'Iran tensions near the Strait of Hormuz. The news underscores that macro rates and FX dynamics remain the dominant driver for bullion in the near term, while geopolitical disruptions are expressing more through higher crude prices. Focus now shifts to upcoming US data for Fed-policy expectations.
Impact level
● Medium
Affected assets
NCCOGOLD2USD/USDT-0.49%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▼ Bearish
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June 29, renewed geopolitical tensions rose after fresh vessel attacks near the Strait of Hormuz amid U.S.-Iran exchanges. COMEX gold fell 0.41% to $4,078 per ounce and silver slid more than 1% to $58.52, while India’s MCX gold futures dropped 0.48% to Rs 1,43,470 per 10 grams and silver eased 0.13%. Analysts said a stronger U.S. dollar and higher U.S. Treasury yields weighed on bullion, while the geopolitical flare-up lifted Brent crude about 1% to $72.78 a barrel.
