Gold slips below ₹150,000 as U.S.-Iran conflict boosts dollar
Business
Gold just slipped below ₹150,000 per 10gm, mainly because rising oil prices, thanks to the U.S.-Iran conflict, are making everything more expensive and boosting the US dollar.
On MCX, June gold futures dipped to ₹149,742 before a small bounce back.
Basically, gold is feeling the heat from global inflation worries.
Silver up 1% gold likely ₹148,000-₹152,000
While gold's been sliding (down 5.55% since the start of the conflict in the Middle East), silver actually went up by 1% on MCX to ₹246,851 per kilogram, even with trading paused for Maharashtra Day.
Experts say gold will likely stay jumpy between ₹148,000 and ₹152,000 for now as investors keep shifting strategies in this unpredictable market.