29-Jun-2026 14:58

Gold futures retreated toward $4,050 an ounce on Monday, while silver fell more than 2% to around $58 an ounce, as renewed US-Iran tensions lifted oil prices, reigniting inflation concerns and reinforcing expectations of a prolonged restrictive Federal Reserve policy stance. A firmer US dollar, hovering near a one-year high, and hawkish remarks from Fed Chair Kevin Warsh further eroded the appeal of non-yielding precious metals ahead of this week's closely watched US jobs report. Despite expectations of a structural supply deficit in the silver market, broader macroeconomic headwinds continued to dominate sentiment. Over the month, gold has declined more than 10%, while silver has fallen nearly 25%. On the domestic front, MCX August gold futures traded 0.7% lower at Rs 1,43,133 per 10 grams, while September silver futures slipped 0.5% to Rs 2,22,301 per kg.

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