Gold Prices Tumble ₹2,600 on MCX Amid Israel-Iran Ceasefire, Bearish Sentiment Looms
New Delhi, June 25, 2025:
Gold prices plunged sharply on Tuesday as easing geopolitical tensions between Israel and Iran prompted profit-booking in the bullion market. The August 2025 gold futures on the Multi Commodity Exchange (MCX) dropped by ₹2,606 or 2.62%, settling at ₹96,782 per 10 grams, compared to the previous close of ₹99,388.
The sudden decline followed the announcement of a US- and Qatar-brokered ceasefire between Israel and Iran, which had driven safe-haven demand in previous weeks. With tensions momentarily subsiding, investors pulled back from the yellow metal, leading to a steep correction in both domestic and international markets.
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At 7:39 PM, MCX gold futures were still trading 2.53% lower at ₹96,875. Meanwhile, Comex gold futures also declined by 2.28% to $3,317.5 per 100 troy ounces, according to CME data.
The ceasefire announcement, though fragile, shifted investor focus from geopolitical risks to macroeconomic fundamentals. The market is now closely monitoring Federal Reserve Chair Jerome Powell’s testimony and upcoming U.S. PCE inflation data for further direction.
Despite the decline, gold found some support at the 50-week SMA level of ₹96,200, but analysts suggest that if this level breaks, prices could dip further.
While geopolitical tensions had pushed gold toward record levels earlier this month, the short-term sentiment has turned bearish. Experts believe that without fresh triggers, gold could continue to face selling pressure, especially if macroeconomic cues point toward delayed rate cuts or stable inflation.
Tags:
Gold Price Today, MCX Gold Rate, Israel-Iran Ceasefire, Trump Qatar Peace Deal, Precious Metals, Commodity Market, August 2025 Gold Futures, Gold Price Forecast, Safe Haven Assets, Global Gold Rates, US Fed, Jerome Powell, Inflation Data, MACD, RSI, Bonanza Research, Gold Price Support Resistance
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