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Gold slides towards $4,050; MCX bullion drops below Rs 1.43 L
13-Jul-2026, 02:40
Gold prices edged lower towards $4,050 an ounce in electronic trading on Monday as renewed US-Iran hostilities lifted crude oil prices, stoking inflation concerns and reinforcing expectations that the Federal Reserve could deliver another interest-rate hike this year. Sentiment was further shaped by the Fed's June meeting minutes, which indicated that some policymakers saw a case for tighter monetary policy, while investors now await this week's US inflation data and Fed Chair Kevin Warsh's congressional testimony for fresh guidance on the interest-rate outlook. Reflecting the weakness in global bullion markets, MCX August gold futures declined by more than Rs 1,000 to around Rs 1,42,403 per 10 grams.
Gold prices edged lower towards $4,050 an ounce in electronic trading on Monday as renewed US-Iran hostilities lifted crude oil prices, stoking inflation concerns and reinforcing expectations that the Federal Reserve could deliver another interest-rate hike this year. Sentiment was further shaped by the Fed's June meeting minutes, which indicated that some policymakers saw a case for tighter monetary policy, while investors now await this week's US inflation data and Fed Chair Kevin Warsh's congressional testimony for fresh guidance on the interest-rate outlook. Reflecting the weakness in global bullion markets, MCX August gold futures declined by more than Rs 1,000 to around Rs 1,42,403 per 10 grams.
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