23-Jun-2025      14:07

Gold edges down as US strikes Iran, Powell testimony and data in focus

Gold prices slipped to around $3375 per ounce in Monday's electronic trades as strength in the US dollar continued to weigh on bullion demand. The drop follows a dramatic weekend where the US stepped directly into the Israel-Iran conflict by striking three Iranian nuclear sites, with President Donald Trump threatening further attacks if Tehran refuses to make peace. Investors are bracing for Iran's response, which could stir more market volatility. At home, MCX domestic bullion futures were seen trading marginally lower at Rs 99053 per 10 grams. This week, attention also turns to the Federal Reserve, with Chair Jerome Powell testifying before Congress and several other officials speaking. Key US economic data, including core inflation, jobless claims, and PMI readings, will guide market expectations for the Fed's next move.

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