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Below the Quote on Gold from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities

"Gold Slips as Tariff Delay and Rupee Weakness Cap Gains

Gold prices fell by RS 700 to settle at Rs 95,650 on the MCX, tracking weakness in Comex gold and added pressure from a weaker rupee. The domestic market faced headwinds as USDINR volatility added resistance, limiting gold’s upside despite global uncertainties.

The decline was largely triggered after the U.S. announced an extension of its tariff implementation on EU goods from June 1 to July 6, easing immediate geopolitical tensions. This reduced gold’s appeal as a near-term hedge.

Going forward, gold is expected to remain volatile with a trading range between Rs 94,500 and Rs 96,750. Market participants will closely monitor currency movements and global trade developments for further cues."

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