Indian gold prices mixed after US strikes on Iran
Business
Gold prices in India took a hit on Tuesday after the US launched strikes on Iran, adding more uncertainty to the global scene.
The MCX June contract rose by ₹1,107 to ₹157,974 per 10gm, while August futures slipped ₹1,061 to ₹161,320.
Basically: more conflict means shakier markets.
Stronger US dollar weighs on gold
A stronger US dollar (thanks to rising crude prices and renewed West Asia conflict) pushed gold down further.
Manav Modi from Motilal Oswal pointed out that this combo is making things tough for bullion.
Meanwhile, investors are keeping an eye on upcoming US economic data for hints about where gold might go next.