Bullish Signal: Gold Surges Past ₹1.51 Lakh on Ceasefire Hopes, Fed Rate Cut Focus

Gold futures on MCX for June 2026 expiry opened higher, touching an intraday high of ₹1,51,870 per 10 gm. This significant price movement is attributed to easing geopolitical tensions between the US and Iran, which typically reduces risk appetite and boosts safe-haven demand for gold.

The surge in gold prices is a key indicator for Indian markets, reflecting global risk sentiment and expectations around monetary policy. For Indian investors, gold is a traditional store of value, and its appreciation impacts household wealth and investment patterns. Furthermore, a weaker US dollar and anticipated US Fed rate cuts make gold more appealing as an alternative investment.

Jewellery retailers like TITAN, PCJEWELLER, and RAJESHEXPO face mixed impacts. While higher gold prices can increase their inventory costs and potentially dampen demand for discretionary purchases, it also boosts the value of their existing gold inventory and can lead to higher revenue per unit sold. Gold financing companies might see increased demand for loans against gold.

Traders should closely monitor developments in US-Iran relations for any shifts in ceasefire hopes, as well as upcoming US Fed statements regarding interest rate cuts. The movement of the US dollar index will also be crucial. Key support and resistance levels for MCX gold futures should be watched for potential entry or exit points.

• •Gold price future contract on MCX for June 2026 expiry opened upside.
• •Touched an intraday high of ₹1,51,870 per 10 gm.
• •Rally attributed to ceasefire hopes in the US-Iran conflict.
• •US dollar and US Fed rate cut expectations are also in focus.