Precious metal futures on the Multi Commodity Exchange (MCX) fell significantly on June 10, 2026. Gold futures for August delivery declined by 1.93%. Silver futures for July delivery dropped over 2.1%.
Renewed tensions between the United States and Iran unexpectedly strengthened the US dollar. These geopolitical frictions raised expectations for a Federal Reserve rate hike. Rising crude oil prices are fueling inflation concerns and shifting investor sentiment.
The current market reaction defies typical safe-haven demand for gold during geopolitical uncertainty. Analysts identify immediate resistance for MCX gold at ₹1,52,000. A decisive break below ₹1,49,000 could trigger additional selling pressure.