GOLD TRADES SIDEWAYS; CENTRAL BANKS EYE HIGHER RESERVES
Published on Jun 18, 2025 14:19
Gold futures stayed flat near $3404 per ounce on Wednesday, weighed down by a stronger dollar even as Iran-Israel tensions continued for a sixth day. Israel confirmed fresh strikes near Tehran and detected missile launches from Iran, keeping geopolitical risks high. Domestically, MCX August bullion futures were steady around ₹99483 per 10 grams. Investors now await the Federal Reserve�s policy decision, with rates likely unchanged but markets watching for clues on future moves amid tariff and conflict worries. Meanwhile, the World Gold Council�s annual central bank survey, done from February to May, showed robust optimism: 95% of central banks expect global gold reserves to rise in the next year, and a record 43% see their own holdings increasing, reinforcing gold�s status as a strategic asset in uncertain times.
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