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As on : 02-Jul-2025
Other Markets - Bullion Markets
02-Jul-2025     14:58

Geopolitical calm caps gold gains despite weaker dollar

Gold futures held within a tight $20 range as traders weighed a weaker US dollar against fading safe-haven demand. The greenback slipped to a 3.5-year low near 96, pressured by fiscal worries and dovish Fed expectations. However, easing geopolitical tensions, following a proposed 60-day Gaza ceasefire, curbed gold's upward momentum. On MCX, August contracts were flat at ₹97269 per 10 grams. Despite supportive macro undercurrents, lack of fresh triggers and holiday-thinned trading kept volatility muted. All eyes now turn to Thursday's US payrolls data for direction, with markets seeking clarity on the Fed's next rate stance amid mixed economic signals.

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