Gold Slips 2% After Fed Decision And Us-Iran Agreement

18-Jun-26   14:56 Hrs IST
Gold slipped below $4,300 per ounce on Thursday as a stronger US dollar and easing geopolitical tensions reduced demand for safe-haven assets. The dollar index remained above the 100 mark after the Federal Reserve kept interest rates unchanged while signaling growing support for tighter monetary policy in the coming years. Adding to the pressure, US President Donald Trump signed an interim agreement with Iran aimed at ending the conflict and reopening the Strait of Hormuz. The deal reportedly includes the removal of sanctions on Iranian oil exports, raising expectations of improved global energy supplies and reducing risk premiums across commodity markets. Meanwhile, Federal Reserve Chair Kevin Warsh reiterated the central bank's commitment to bringing inflation back to its 2 per cent target, while policymakers raised their inflation forecasts and indicated the possibility of future rate hikes. Reflecting the bearish sentiment, MCX August gold futures fell more than 2 per cent to Rs 150,567 per 10 grams.

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