Commodities
Gold Prices Fall Again Amid Rising Tensions Between US and Iran
Gold prices fell for the second day in a row on the Multi-Commodity Exchange (MCX) as investors awaited key US data releases. Spot gold rose 0.4% to $4,372.19 per ounce, but US gold futures fell 0.5% to $4,416.00.
The conflict between the US and Iran intensified, with Iranian-backed Houthis launching strikes on several Saudi cities, drawing another US ally deeper into the war. This added to market uncertainty, keeping investors focused on the interest-rate outlook.
Manoj Kumar Jain of Prithvi Finmart predicted that gold would find support at $4,400-4,365 per troy ounce and resistance at $4,474-4,510. For silver, support stands at $65.80-64.70, with resistance at $68.00-69.10 per troy ounce in today's session.