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Gold steadies at $4545 amid cooling inflation fears
29-May-26   14:59 Hrs IST

Gold steadied near $4545 an ounce on Friday after recovering in the previous session, as easing geopolitical tensions following reports of a preliminary US-Iran agreement helped calm inflation and interest rate concerns. Gold futures are set to end May nearly 2% lower amid persistent selling pressure linked to higher oil prices and tighter monetary policy expectations, while silver futures remained resilient with monthly gains of over 2%, supported by strong industrial demand and structural supply deficits. Meanwhile, the US dollar index hovered near 99 after softer-than-expected US PCE inflation data reduced expectations of aggressive Federal Reserve tightening. On the domestic front, MCX August gold futures traded 0.2% lower at Rs 160564, while July silver futures declined 1.25% to Rs 266165 per kg.

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