{
  "id": 5038886,
  "title": "Gold futures slip for 7th day, drop to ₹1.5 lakh/10g amid US-Iran tensions",
  "url": "https://urgent.news/2026/09/02/gold-futures-slip-for-7th-day-drop-to-1-5-lakh-10g-amid-us-iran",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-02T07:17:20.000Z",
  "source": {
    "name": "Hindu BusinessLine",
    "slug": "hindu-businessline",
    "url": "https://www.thehindubusinessline.com/markets/gold/gold-futures-slip-for-7th-day-drop-to-15-lakh10g-amid-us-iran-tensions/article71418499.ece"
  },
  "original_language": "en",
  "account": "Gold futures prices tumbled for the seventh day straight on Wednesday, plummeting to ₹1.5 lakh for every 10 grams as heightened tensions between the US and Iran influenced market sentiment. The decline in gold futures was attributed to the US and Iran's ongoing military exchanges, which led to a rise in oil prices and heightened fears of inflation and interest rate hikes.\n\nOn the Multi Commodity Exchange (MCX), gold futures for October delivery fell by ₹1,559, or 1.03%, to ₹1,50,170 per 10 grams from the previous close of ₹1,51,729 per 10 grams. Similarly, the December contract also dropped by ₹1,753, or 1.14%, to ₹1,51,540 per 10 grams from ₹1,53,293 per 10 grams.\n\nAnalysts pointed out that recent US airstrikes on Iranian military facilities in Bahrain, Kuwait, Jordan, and Iraq had intensified concerns over a wider conflict. This geopolitical instability led to a surge in oil prices, which in turn heightened inflation and the probability of interest rate increases.\n\nAamir Makda, a Commodity & Currency Analyst at Choice Broking, stated that the decline in gold futures marked their lowest point in over three weeks. In global markets, Comex gold futures for the December contract fell for the fourth consecutive day, slipping by USD 46.46, or 1.06%, to USD 4,349.94 per ounce in New York. Gold prices fell more than 1% to a two-week low in overseas trade due to the renewed military exchanges between the US and Iran, which further pushed up oil prices and intensified global sell-off in bullion.\n\nThe US Central Command (CENTCOM) forces reported that they had completed a new wave of strikes against Iranian military targets, following recent attacks by the Islamic Revolutionary Guard Corps (IRGC) against commercial shipping in the Strait of Hormuz and American service members. Makda explained that market participants would be vigilantly awaiting US employment data, which would provide insight into the Federal Reserve's interest rate path. The renewed focus on US economic data comes as investors assess the potential impact of higher energy prices on inflation and the Federal Reserve's monetary policy decision scheduled for September 16.",
  "summary": "On MCX, the yellow metal futures for October delivery declined by ₹1,559, or 1.03% to ₹1,50,170 per 10 grams from Tuesday's closing level of ₹1,51,729 per 10 grams.",
  "key_points": [
    "Gold futures prices dropped for 7th consecutive day to ₹1.5 lakh/10g",
    "US-Iran tensions influenced market sentiment amid military exchanges",
    "Analysts linked decline to rising oil prices and inflation fears"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}