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Commodity News Details
Gold gains momentum as geopolitical risks ease
06-May-2026 15:08
Gold futures climbed decisively above the $4700 mark in Asian trading on Wednesday, supported by a softer US dollar and easing oil prices as geopolitical tensions in the Middle East showed signs of cooling. Gold rose amid rising risk appetite after Donald Trump indicated a pause in US-led maritime security operations to allow room for a broader agreement with Iran while officials confirmed the ceasefire remains intact and offensive actions have ceased. This reduced the risk premium in crude and helped ease inflation concerns, thereby lowering expectations of aggressive Federal Reserve rate hikes and boosting gold's appeal, while the dollar index slipped toward 98 adding further strength to bullion, and MCX June gold futures mirrored global gains by rising nearly 2% to ₹1,52,401 per 10 grams with resistance seen near ₹1,53,700, as markets now turn to upcoming US labor data including the ADP report and nonfarm payrolls for fresh directional cues.

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