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India retail gold edges lower on 2 July as MCX August futures slip 0.17% to ₹144,560 per 10 grams

AI Market Summary
Indian retail gold and MCX gold futures eased modestly while domestic silver and MCX silver futures advanced, highlighting diverging precious-metals demand. Crude's sharp drop after comments on improving US-Iran talks reduces near-term inflation impulse, potentially weighing on safe-haven bid for gold. Separately, a Nasdaq-led chip selloff pressured Asian semiconductors, adding cross-asset risk sensitivity into early session flows.
Impact level
● Medium
Affected assets
NCCOGOLD2USD/USDT-1.45%
AI Insight · NCCOGOLD2USD/USDTAI Insight
● Neutral
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Retail gold prices in India eased on 2 July, with 24K gold in New Delhi quoted at ₹144,340 per 10 grams, while MCX August gold futures were down 0.17% at ₹144,560 per 10 grams. Silver prices rose in the domestic bullion market, with MCX silver futures up 0.71% at ₹231,850 per kg. Brent crude futures fell 1.9% to $71.57 a barrel after U.S. President Donald Trump said U.S. talks with Iran in Qatar were going well. A Nasdaq Composite drop overnight weighed on shares of Samsung Electronics and SK Hynix, which fell sharply in early trading.
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