MCX Crude Oil Plunges 2.4% as US-Iran Military Strikes Halt

The MCX Crude Oil price plummeted on Friday after the United States and Iran halted military strikes against each other, leading to a sharp decline in oil prices. Brent Futures traded at $83.8 per barrel, down 2.3%, while WTI Crude fell 2.5% to around $80.8.

The MCX Gold price was marginally higher in the international market, with gold spot prices trading around $4,085 per ounce, up 0.3%. Silver traded 0.3% higher at $59.1 per ounce in US markets.

However, investors were cautious ahead of the Federal Reserve's policy decision, which could provide more clues on the market direction. The MCX Gold price has failed to sustain above its short-term trendline and is now trading near ₹1,42,100.