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As on : 08-Jun-2026

Other Markets - Bullion Markets
08-Jun-2026 14:32

Gold slumps below key levels despite geopolitical tensions

Gold prices extended their decline on Monday, falling to their lowest level in more than two months as stronger-than-expected US employment data boosted expectations of higher interest rates and lifted Treasury yields. International gold futures slipped below $4,300 an ounce, while MCX August gold futures fell under ₹1,53,000 per 10 grams. Although renewed Iran-Israel tensions and concerns over disruptions in the Strait of Hormuz supported oil prices and inflation fears, investors focused on the prospect of tighter US monetary policy. Robust labor market data reduced hopes for near-term Federal Reserve rate cuts, weighing on non-yielding assets such as gold. While ongoing central bank purchases and geopolitical risks continue to provide long-term support, short-term sentiment remains pressured by rising yields and a stronger US dollar.

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