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Gold futures drop 2.27% to Rs 1,45,917 per 10 grams as US-Iran talks are postponed

Gold futures fell 2.27% on Friday to Rs 1,45,917 per 10 grams after follow-up talks on a US-Iran peace agreement planned in Switzerland were postponed indefinitely, dampening hopes of easing geopolitical risks. A stronger US dollar and the Federal Reserve’s signal that interest rates may stay high for longer also weighed on bullion. In New York, the benchmark August Comex gold contract slid 2.24% to USD 4,150.90 an ounce. The report also flagged renewed concerns that efforts to restore oil flows through the Strait of Hormuz could face disruption risks.
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Geopolitics