<p>New Delhi: <a href="https://www.deccanherald.com/tags/gold-prices">Gold prices</a> fell Rs 462 to Rs 1.51 lakh per 10 grams in futures trade on Friday, tracking weak global trends amid a stronger US dollar and rising crude oil rates.</p>.<p>On the Multi Commodity Exchange, the yellow metal for June delivery declined Rs 462, or 0.3 per cent, to Rs 1,51,299 per 10 grams in a business turnover of 8,310 lots.</p>.<p>Analysts said pressure on precious metals came from a firm dollar and elevated energy prices, as well as heightened inflation concerns.</p>.<p>Gold prices declined on Friday. The pressure on the precious metals can be attributed to a stronger US dollar and rising crude oil prices, which have intensified inflation concerns among investors, Gaurav Garg, Research Analyst at Lemonn Markets Desk, said.</p>.<p>He added that oil prices were hovering around $95.84 per barrel due to geopolitical tensions, particularly in the Strait of Hormuz, which has exacerbated market uncertainty.</p>.<p>In the international market, Comex gold futures for the June contract slipped $33.54, or nearly 1 per cent, to $4,690.46 per ounce in New York.</p>.<p>Brokerage firm Kotak Securities gold hovered around $4,680 per ounce, heading for nearly a 3 per cent weekly loss as prolonged US-Iran tensions and the continued Strait of Hormuz blockade drove oil higher and lifted inflation concerns.</p>.<p>According to analysts, signs of friction between Washington and Tehran persist due to the US Navy's blockade of Iranian ports.</p>.<p>Iran's Foreign Minister, Abbas Araghchi, termed the blockade an act of war, while chief negotiator Mohammad Bagher Ghalibaf, said a complete ceasefire would be meaningful only if maritime restrictions are lifted.</p>.<p>Meanwhile, US President Donald Trump ordered the Navy to act against any vessels laying mines in the crucial shipping route, further dampening hopes for de-escalation.</p>.<p>Analysts said these developments have supported the US dollar's strength, putting pressure on gold prices in the global markets.</p>.<p>Market participants are now awaiting the final University of Michigan's consumer sentiment data for further cues on the Federal Reserve's monetary policy path and the near-term trajectory of bullion prices, Kotak Securities said in a note.</p>
<p>New Delhi: <a href="https://www.deccanherald.com/tags/gold-prices">Gold prices</a> fell Rs 462 to Rs 1.51 lakh per 10 grams in futures trade on Friday, tracking weak global trends amid a stronger US dollar and rising crude oil rates.</p>.<p>On the Multi Commodity Exchange, the yellow metal for June delivery declined Rs 462, or 0.3 per cent, to Rs 1,51,299 per 10 grams in a business turnover of 8,310 lots.</p>.<p>Analysts said pressure on precious metals came from a firm dollar and elevated energy prices, as well as heightened inflation concerns.</p>.<p>Gold prices declined on Friday. The pressure on the precious metals can be attributed to a stronger US dollar and rising crude oil prices, which have intensified inflation concerns among investors, Gaurav Garg, Research Analyst at Lemonn Markets Desk, said.</p>.<p>He added that oil prices were hovering around $95.84 per barrel due to geopolitical tensions, particularly in the Strait of Hormuz, which has exacerbated market uncertainty.</p>.<p>In the international market, Comex gold futures for the June contract slipped $33.54, or nearly 1 per cent, to $4,690.46 per ounce in New York.</p>.<p>Brokerage firm Kotak Securities gold hovered around $4,680 per ounce, heading for nearly a 3 per cent weekly loss as prolonged US-Iran tensions and the continued Strait of Hormuz blockade drove oil higher and lifted inflation concerns.</p>.<p>According to analysts, signs of friction between Washington and Tehran persist due to the US Navy's blockade of Iranian ports.</p>.<p>Iran's Foreign Minister, Abbas Araghchi, termed the blockade an act of war, while chief negotiator Mohammad Bagher Ghalibaf, said a complete ceasefire would be meaningful only if maritime restrictions are lifted.</p>.<p>Meanwhile, US President Donald Trump ordered the Navy to act against any vessels laying mines in the crucial shipping route, further dampening hopes for de-escalation.</p>.<p>Analysts said these developments have supported the US dollar's strength, putting pressure on gold prices in the global markets.</p>.<p>Market participants are now awaiting the final University of Michigan's consumer sentiment data for further cues on the Federal Reserve's monetary policy path and the near-term trajectory of bullion prices, Kotak Securities said in a note.</p>