Gold futures fell nearly 1% to around $4,200 an ounce in Asian trading on Monday, extending recent losses as easing geopolitical tensions reduced demand for safe-haven assets. Sentiment improved after the US and Iran reportedly agreed on a roadmap to reach a final peace deal within 60 days, helping push oil prices lower and weakening gold's appeal. The precious metal also faced pressure from a firm US dollar, with the dollar index hovering near 100.6, close to its strongest level since May 2025. Investors are now awaiting this week's US PCE inflation report, the Federal Reserve's preferred inflation gauge, for further clues on the interest-rate outlook. Despite weakness in international markets, MCX August gold futures bucked the trend, rising more than 1% to Rs 1,48,900 per 10 grams.
Powered by Capital Market - Live News