Quote on Gold Commentary: 13th June 2025 by Mr. Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial services Ltd
Below the Quote on Gold Commentary: 13th June 2025 by Mr. Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial services Ltd
Gold marked an all time of Rs. 1 lakh on domestic front and hovering close to $3500, as investors sought safe-haven assets after Israel's strike on Iran heightened Middle East tensions. Geopolitical tensions escalated after Israel struck Iran as tensions mounted over U.S. efforts to halt Iran's production of atomic bomb materials. This latest spike in hostilities in the Middle East has taken the focus off trade negotiations for now, and built the risk premium once again in the market. Israel declared a state of emergency, citing expected missile and drone attacks from Tehran, and the U.S. military is preparing for various contingencies in the Middle East, including potential assistance with evacuating American civilians. On data front, US CPI was reported better than expectations but the PPI data was slightly higher than estimates. Number of Americans filing new applications for unemployment benefits held at an eight-month high last week, while slowing domestic demand helped to restrain producer prices in May. Dollar index and US Yields also inched lower amidst the economic data points. Focus today will be on US Michigan consumer sentiment.
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