Gold price dips on Russia-Ukraine truce reports :May 20,2025
Today’s gold price: Because of possible peace negotiations between Russia and Ukraine, gold prices declined in the domestic futures market. At 9:15 AM, the MCX Gold June 5 contract decreased 0.35% to ₹92,975 per 10 kilos. As the dollar index recovered, demand declined.
Today’s gold price: Amid speculations of a possible ceasefire between Russia and Ukraine, gold prices fell in the local futures market on Tuesday morning. A steady dollar and weak domestic spot market demand also hurt bullion. Around 9:15 AM, the MCX Gold June 5 contract was down 0.35 percent at ₹92,975 per 10 grams.
In an effort to accelerate efforts to end the war in Ukraine, US President Donald Trump reportedly called Russian President Vladimir Putin on Monday. While acknowledging that the two-hour call with the US president was “very frank” and “useful,” the Russian president emphasized the importance of determining the best routes to “peace” in the midst of the ongoing war with Ukraine.
A possible truce between Russia and Ukraine raised hopes, which boosted demand for safe-haven assets.
Gold became more costly and less desirable to buyers in other currencies as the dollar index rebounded from its losses from the previous session.
Because of waning geopolitical tensions, trade war anxiety, and dwindling anticipation of an impending rate drop by the US Federal Reserve, gold prices have been erratic recently.
In the past week,the price of MCX Gold has dropped by almost 1%.
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