Gold fell ₹1,600/10g as Iran-US strikes lifted crude 4% and dragged equity futures. MCX gold settled at ₹142,410, silver at ₹218,230. The selloff in a risk event suggests margin-driven liquidation, dealers said.
Alpha Score of 42 reflects weak overall profile with strong momentum, poor value, moderate quality, poor sentiment.
Gold prices in India's retail market fell Monday as the US and Iran traded airstrikes over the Strait of Hormuz, sending crude oil up 4% and dragging equity futures lower. The yellow metal's decline came despite the geopolitical escalation, a pattern traders said reflected forced liquidation to cover margin calls on risk assets.
MCX gold futures settled 1.12% lower at ₹142,410 per 10 grams. Silver futures dropped 2.14% to ₹218,230 per kg. In the spot market, 24-karat gold in Mumbai was quoted at ₹142,300 per 10 grams, down about ₹1,600 from Friday's close. Delhi quoted 24-karat at ₹141,840, the lowest among major cities.
Oil prices jumped Sunday evening after the US military hit 140 Iranian targets on Saturday, followed by a second wave of strikes Sunday, according to US Central Command. The strikes came in response to an attack by the Islamic Revolutionary Guard Corps on a container ship transiting Hormuz. US crude futures rose 4.1% to $74.33 a barrel. Brent gained 3.88% to $78.96.
President Donald Trump disputed Iran's claim that the Strait of Hormuz was closed, saying the waterway remained open to commercial traffic, CNBC reported.
Stock futures fell Sunday night as traders weighed the Middle East escalation against a heavy week of corporate earnings. Dow Jones Industrial Average futures slipped 135 points, or 0.3%. S&P 500 futures lost 0.3%. Nasdaq-100 futures dropped 0.5%.
The gold selloff in the face of a geopolitical risk event is unusual. Typically, bullion rallies on safe-haven demand during Middle East crises. Monday's action suggested some traders were selling gold to raise cash for margin calls on equities and oil positions, two Mumbai-based bullion dealers said.
Separately, SK Hynix shares tumbled more than 12% in Seoul after the chipmaker's strong Nasdaq debut on Friday. The South Korean memory-chip maker had jumped 13% in its US listing, reflecting appetite for AI-linked semiconductor stocks, CNBC reported.
Retail gold rates across major Indian cities on 13 July:
New Delhi – 24K ₹141,840/10g, 22K ₹130,020/10g, Silver 999 ₹217,020/kg
Mumbai – 24K ₹142,300/10g, 22K ₹130,442/10g, Silver 999 ₹217,410/kg
Kolkata – 24K ₹142,110/10g, 22K ₹130,268/10g, Silver 999 ₹217,130/kg
Chennai – 24K ₹142,710/10g, 22K ₹130,818/10g, Silver 999 ₹218,050/kg
Bengaluru – 24K ₹142,410/10g, 22K ₹130,543/10g, Silver 999 ₹217,590/kg
Hyderabad – 24K ₹142,520/10g, 22K ₹130,643/10g, Silver 999 ₹217,760/kg
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