Gold Futures Slump Over 2% Amid Weak Global Cues, US-Iran Deal Uncertainty

Gold futures fell by Rs 3,392 to Rs 1.45 lakh per 10 grams on Friday, following subdued global markets as doubts lingered about the US‑Iran peace deal, hurting demand for the metal.

On the Multi Commodity Exchange, August‑delivery gold slipped for a second consecutive session, dropping Rs 3,392 (2.27 %) to Rs 1,45,917 per 10 gm, with trade volume of 9,099 lots.

Analysts noted that early optimism about the US‑Iran accord waned after Switzerland‑based high‑level talks were cancelled, casting doubt on the deal’s ability to halt hostilities and reopen Hormuz oil shipments.

Switzerland’s foreign ministry announced that the Friday talks intended to advance the next phase of the agreement have been postponed until further notice.

Reports indicated that US Vice‑President JD Vance postponed his planned trip, and Iran’s involvement in the talks remained unclear.

Analysts said these events have left investors skeptical about a smooth rollout of the peace process.

Gaurav Garg, research analyst at Lemonn Markets Desk, said gold prices came under pressure on Friday as a stronger US dollar weighed on the metal.

In global trade, Comex August gold futures slipped USD 95 (2.24 %) to USD 4,150.90 per ounce in New York.

The metal also stayed under pressure after the Federal Reserve’s latest policy meeting reinforced expectations that rates could stay high for a prolonged period.

The Federal Reserve held rates steady on Wednesday, but policymakers showed little urgency to cut, which bolstered the dollar and Treasury yields.

Analysts observed that geopolitical unease continued after Israel launched new strikes in Lebanon, even as the wider US‑Iran framework remained in place.

They added that bullion prices are expected to stay volatile as investors monitor West Asian developments and the outlook for global rates and growth.

Gold slips 1.36% this week amid dollar strength and Fed outlookIANS