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The Economic Times

National

Gold price prediction: Gold rate futures fall big, what to expect for bullion?

Gold Oil US Federal Reserve

Gold price today: Spot gold was up 1.2 per cent at $4,208.58 per ounce. U.S. gold futures for August delivery fell 0.4 per cent to $4,226.90. Gold rate jumped on Monday after falling to its lowest level since June 11 on Friday. Spot silver rose 2.3 per cent to $66.41/ounce, platinum gained 0.9 per cent to $1,678.19, and palladium was up 1.3 per cent at $1,274.

Gold is set to end a three-session losing streak, supported by a drop in ‌Brent crude oil prices ⁠on ⁠positive progress in U.S.-Iran talks, even as the Federal Reserve's hawkish stance kept investors on edge. Oil prices declined on the news, with Brent crude futures falling nearly 2 per cent.

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