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Commodities Gold, Silver Under Pressure as Middle East Tensions and Fed Rate Hike Expectations Weigh
Gold and silver prices traded lower on Monday as renewed US-Iran military strikes raised crude oil prices and reinforced expectations that the US Federal Reserve may continue raising interest rates. MCX gold futures for August delivery fell 0.4% to ₹1,43,545 per 10 grams, while spot gold dropped 0.7% to $4,061.35 per ounce. Analysts at KCM Trade and Motilal Oswal highlight that geopolitical uncertainty and persistent inflation are key drivers.
Business Stock Markets Eye Positive Start as US-Iran Sign MoU, Crude Oil Drops; Fed Comments Weigh on Wall Street
Indian equity markets are expected to open positively on Thursday, buoyed by the US-Iran interim peace agreement and a further drop in crude oil prices. However, Wall Street ended lower overnight after new Federal Reserve Chair Kevin Warsh signalled possible higher interest rates. The Nifty PSU bank index outperformed, and technical indicators support a bullish bias.
Business BSE Sensex Rises Over 300 Points, Nifty Holds Above 23,900; FIIs Turn Buyers After 13 Sessions
Indian equity markets opened on a mildly positive note on June 16, with Gift Nifty indicating gains. On the previous session, Nifty rose 231 points to 23,853.90 while Bank Nifty gained 384 points. Foreign institutional investors turned net buyers after 13 consecutive selling sessions, providing support.
Commodities Gold, Silver Prices Rise Marginally; Fed Decision, Iran Deal in Focus
International gold and silver prices rose marginally as market participants focus on the US Federal Reserve's policy announcement later today and the interim agreement between the United States and Iran. The Fed is widely expected to keep rates unchanged, while the Iran deal could allow oil sales to resume.