Tag: Federal Reserve

MCX Gold and Silver Hold Steady as Fed Rate-Hike Bets Ease and Dollar Strengthens

Gold and silver prices on the Multi Commodity Exchange (MCX) remained largely unchanged on July 6, 2026, as a softer-than-expected US jobs report tempered expectations of further interest rate hikes by the Federal Reserve. However, a stronger US dollar capped gains for the precious metals.

Domestic Prices

August gold futures on MCX edged down by 0.02% to Rs. 1,47,351 per 10 grams, while September silver futures slipped 0.19% to Rs. 2,36,966 per kilogram. In the spot market, 24K gold fell by Rs. 11 to Rs. 1,46,620 per 10 grams, and 22K gold declined by Rs. 10 to Rs. 1,34,400. Regional prices varied slightly, with Mumbai and Kolkata quoting Rs. 1,46,620, Delhi at Rs. 1,46,770, and Chennai at Rs. 1,49,450.

US Gold and Silver Markets

Internationally, spot gold held steady near a two-week high at $4,174.66 per ounce, supported by a weaker dollar after last week’s job data. US gold futures for August delivery rose 1.5% to $4,186.70 per ounce. Meanwhile, spot silver fell 0.6% to $62.03 per ounce, pulling back from a June 23 high. Platinum declined 0.1% to $1,636.60 per ounce, and palladium lost 0.2% to $1,271.75 per ounce.

Brent crude futures fell 0.41% to $71.41 a barrel, while US West Texas Intermediate (WTI) dropped 0.28% to $68.50 a barrel.

Market Outlook and Key Levels

According to the CME FedWatch Tool, traders now see a 55% chance of a rate hike in September, down from 60% previously. “Gold has regained some poise as markets dial back rate-hike expectations. While this provides relief on the yield front, the dollar’s strength continues to act as a ceiling,” said Tim Waterer, chief market analyst at KCM Trade.

Manoj Kumar Jain of Prithvifinmart Commodity Research recommended buying gold on dips around Rs. 1,46,000–Rs. 1,45,000 with a stop loss below Rs. 1,43,850 for targets of Rs. 1,48,000 and Rs. 1,49,100. For silver, he suggested buying on dips around Rs. 2,34,400–Rs. 2,31,000 with a stop loss below Rs. 2,27,000 for targets of Rs. 2,41,000 and Rs. 2,44,000.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Analytics Insight does not provide financial guidance on cryptocurrencies or stocks. Readers should conduct their own research (DYOR) before making any investment decisions.

July 6, 2026
Ethereum Surges as Fed Rate Worries Subside: Institutional Demand and Network Upgrades Fuel Rally

Ethereum has been gaining momentum as concerns over prolonged high U.S. interest rates fade. Cooling inflation has shifted expectations toward a softer Federal Reserve stance, prompting investors to rotate capital into higher-growth assets like ETH. This macroeconomic tailwind, combined with strong institutional demand, ongoing network upgrades, and expanding Layer-2 adoption, is bolstering Ethereum’s long-term outlook.

Lower Interest Rate Concerns Support Ethereum

Interest rates heavily influence financial markets. Recent inflation data has eased fears that the Fed will maintain elevated rates for an extended period. This shift in sentiment has drawn fresh money back into risk assets, including Ethereum.

Institutional Investors Continue to Show Interest

Growing institutional demand is a key driver of Ethereum’s price movement. Major investment firms are increasing their exposure through spot Ethereum ETFs. While weekly inflows fluctuate, the overall trend points to rising institutional backing.

Ethereum Network Remains Strong

Ethereum maintains its position as the largest smart contract blockchain. Thousands of decentralized finance (DeFi) platforms, blockchain applications, and stablecoin projects rely on its network daily. Developers continue building new products on Ethereum, drawn by its robust infrastructure and large user base. This steady growth supports long-term demand for ETH.

Staking Reduces Supply

Ethereum’s proof-of-stake system allows holders to lock their coins to secure the network and earn rewards. As more investors stake their ETH, fewer coins remain available for trading. This supply reduction often supports prices when demand stays strong, giving Ethereum an advantage over many other cryptocurrencies.

Network Upgrades Improve Performance

Years of upgrades have boosted processing efficiency, validator performance, wallet security, and transaction speeds. These technical improvements attract developers, enterprises, and financial institutions, making Ethereum a more attractive long-term investment.

Layer-2 Networks Help Ethereum Grow

The rapid growth of Layer-2 networks makes transactions faster and cheaper. Lower costs encourage broader use of DeFi platforms, blockchain games, digital collectibles, and other services. Since these Layer-2 systems rely on the main Ethereum blockchain, increased network activity benefits ETH directly.

Strong Market Position Supports Price Growth

Ethereum’s total market capitalization exceeds $214 billion, with a circulating supply of about 120.7 million ETH. Daily trading volume regularly surpasses $10 billion, indicating strong engagement from both retail and institutional participants. This liquidity attracts major investment firms.

Better Economic Outlook Helps Risk Assets

U.S. Treasury yields have stabilized compared to the period of aggressive rate hikes, reducing pressure on growth-focused investments. Anticipation of a less restrictive Fed posture, assuming inflation trends toward target, typically fuels gains in tech stocks and crypto tokens. Ethereum has historically performed well under such conditions.

Tokenization Creates New Opportunities

Real-world asset tokenization is gaining traction. Banks and financial institutions are exploring ways to place traditional assets like bonds and funds on blockchain networks, opening new use cases for Ethereum.

Risks Still Remain

Despite the rally, Ethereum remains volatile. Economic reports, Fed statements, ETF flows, and sentiment changes can cause sharp price swings. However, the easing of interest rate concerns has created a more favorable environment for cryptocurrencies.

Final Thoughts

Ethereum’s recent rise reflects a convergence of factors: easing Fed rate fears, strong institutional participation via spot ETFs, network upgrades, Layer-2 growth, expanding blockchain adoption, and tokenization. With a market cap above $214 billion and daily trading volume over $10 billion, Ethereum remains a dominant digital asset. While short-term volatility persists, the combination of improved economic conditions and solid network fundamentals supports its long-term growth.

July 6, 2026
Bitcoin Price Analysis: Q2 2026 Decline and Q3 Outlook Amid Fed Rate Fears and ETF Outflows
Bitcoin (BTC) entered the third quarter of 2026 under significant pressure after a weak first half of the year. The cryptocurrency dropped 14.20% in Q2 and declined 22.2% in the first quarter, ending the first half with back-to-back losing quarters for the first time since 2022. A combination of macro factors, ETF sell-offs, and technical breakdowns weighed on the market.

Q2 Recap: From Strength to Weakness

Q2 started on a strong note, with Bitcoin trading around $68,000 and surging over 20% to a May high of $82,833. The rally coincided with strength in the Nasdaq 100 and renewed interest in technology stocks. However, Bitcoin failed to maintain momentum and could not break through resistance between $81,000 and $83,500. The bull market ended near the trend-channel resistance at $83,000 as well as the 200-day moving average.

Inflation and Fed Shift Hit Bitcoin

The more significant turnaround occurred following stronger-than-expected April US CPI and PPI data, which cast doubt on whether inflationary pressures were still persistent. This changed market sentiment from rate cuts to possible rate hikes and negatively affected Bitcoin, gold, and silver. Bitcoin subsequently succumbed to leveraged and institutional selling and dropped to approximately $59,100 in early June. A hawkish May meeting by Fed Chair Kevin Warsh helped push Bitcoin below $58,000, just near $57,735 early in Q3.

US Jobs Data Provides Some Breathing Room

Softer US labor market data has now slightly eased rate-hike expectations. Nonfarm payroll figures for April and May were revised down by a combined 74,000 jobs. June nonfarm payroll growth was expected at 110,000 but came in at just 57,000. Private jobs also increased by 98,000, less than the anticipated 118,000, according to ADP data.

“The lower-than-expected jobs number portends less likelihood of potential rate hikes later this year. As we know, gold tends to perform better in lower interest rate environments,” said David Meger, director of metals trading at High Ridge Futures. The CME FedWatch Tool now reflects almost a 50% probability of a September rate hike, down from 60% before the data.

Why This Matters

For the first time since 2022, Bitcoin has opened the year with back-to-back losing quarters. This technical breakdown, cemented by a newly hawkish Federal Reserve under Chair Kevin Warsh and severe ETF outflows, threatens to flip 2026 into a structural bear market unless macro liquidity provides a rapid turnaround.

Technical Outlook for Q3

BTC closed below the 200-week moving average near $62,444 for the first time since October 2023. This has raised the chances of a further decline toward the $50,000-$52,000 support zone. The initial test of strength for bulls would be pushing above the mid-June $67,253 level. If BTC is to make a recovery, a break above $75,203 is required, where its 200-day moving average is located.

The 2018-2022 period is the only other cycle in which Bitcoin began the year with two consecutive losing quarters. Both became bear market years. It does not guarantee it will repeat in 2026, but sluggish demand from ETFs, soft on-chain activity, a strengthening dollar, and capital flow toward AI stocks mean Q3 could be difficult unless Bitcoin gets a strong start.

Key Levels to Watch in Q3
- Downside support: $50,000–$52,000
- First resistance: $67,253
- Major resistance: $75,203 (200-day moving average)
- 200-week moving average: $62,444 (now acting as resistance)
Frequently Asked Questions

Why did Bitcoin fall in Q2 2026?

Bitcoin fell 14.20% in Q2 after failing to sustain gains near the $81,000-$83,500 resistance zone. Stronger US inflation data, Fed rate-hike fears, ETF outflows, and leveraged selling added pressure.

What was Bitcoin’s highest level in Q2?

Bitcoin started Q2 near $68,000 and rallied more than 20% to a May high of $82,833. However, the rally stalled near trend-channel resistance and the 200-day moving average.

Why did US inflation data hurt Bitcoin?

Stronger-than-expected US CPI and PPI data reduced hopes of Federal Reserve rate cuts. That pushed markets toward rate-hike expectations, hurting risk assets such as Bitcoin, gold, and silver.

Is Bitcoin entering a bear market in 2026?

Bitcoin has posted back-to-back quarterly losses in Q1 and Q2, a pattern previously seen in difficult bear-market years like 2018 and 2022. This does not confirm a repeat, but weak ETF demand, soft on-chain activity, and a strong dollar keep Q3 risks elevated.
July 6, 2026
Tech Funds Fuel $1 Billion US Equity Rebound After Heavy Outflows

US equity funds attracted net inflows of $1.03 billion for the week ending July 1, reversing part of the prior week’s $3.47 billion in withdrawals. The return to buying was led by technology sector funds, which drew $3.42 billion after investors had pulled nearly $20 billion from the group the week before. The shift came as softer-than-expected June jobs data lowered expectations for a near-term Federal Reserve rate hike.

According to fund flow data, large-cap funds absorbed $7.2 billion in net new money, while financial funds added $1.96 billion and healthcare funds received $1.47 billion. However, the recovery was not broad-based. Small-cap funds saw $694 million in outflows, mid-cap funds lost $2.1 billion, and equity income funds recorded withdrawals of $1.33 billion. This suggests that investor confidence remains concentrated in larger, more liquid names and selected sectors.

The labor report played a key role in the sentiment shift. The US economy added only 57,000 new jobs in June, below market expectations, and previous months’ payroll figures were revised downward. The data reduced the likelihood that the Federal Reserve would raise interest rates before year-end, encouraging a move back into equities, particularly technology stocks that had been sold off sharply.

Bond and money market funds also saw strong demand. US bond funds attracted a net $9.88 billion, extending their inflow streak to 11 consecutive weeks. Short-to-intermediate investment-grade bonds took in $4.22 billion, while general domestic taxable fixed-income funds added $3.53 billion. In contrast, short-to-intermediate government and Treasury funds experienced $2.1 billion in outflows. Money market funds recorded the largest weekly allocation in four weeks at $47.82 billion, reflecting cautious positioning ahead of the payroll data and ongoing inflation uncertainty.

The cautious mood was also influenced by supply chain disruptions linked to the closure of the Strait of Hormuz, which have forced vessel rerouting and raised concerns about transport costs adding to future inflation. James Rossiter of TD Securities identified shipping as a major risk for the year.

Global equity markets rose on Friday following the weak US jobs data. The MSCI world index gained 0.4% and was on track for a weekly rise of about 2%, its best performance in two months. Europe’s STOXX 600 rose 0.6% to a record high, heading for a 2.6% weekly gain. David Morrison of Trade Nation noted that European shares have benefited from lower valuations and less exposure to the artificial intelligence trade, questioning whether highly valued US tech stocks can continue to lead global gains.

Asian markets also advanced, with chip stocks rebounding. South Korea’s KOSPI surged roughly 6%, while Japan’s Nikkei rose 1.5%. Purchasing managers’ data showed expansion across major Asian economies. Gold climbed 1% to above $4,160 an ounce, heading for a 1.8% weekly gain. The dollar paused after hitting its highest level in over a year. Brent crude edged up 0.45% to $71.12 a barrel. US markets were closed Friday for the Independence Day holiday.

Looking ahead, investors are expected to focus on upcoming inflation and economic data for clues about the Fed’s next policy move. Technology stocks may continue to lead gains if economic conditions remain supportive, but the narrow nature of the current equity recovery suggests caution may persist.

July 4, 2026
MCX Gold Climbs 1.47% to Rs 1,47,900 as US Jobs Data Eases Rate Hike Fears; Silver and Brent Also Gain

Gold prices rallied on the Multi Commodity Exchange (MCX) on July 3, buoyed by softer-than-expected US jobs data that lowered expectations for further Federal Reserve interest rate hikes. August gold futures surged 1.47% to Rs 1,47,900 per 10 grams, while September silver futures advanced 1.85% to Rs 2,37,630. In the energy market, Brent crude futures rose 0.61% to $72.34 a barrel, and US West Texas Intermediate (WTI) gained 0.47% to $69.01.

According to the CME FedWatch Tool, traders now see a 54% probability of a rate hike in September, down from 66% previously. The shift in sentiment followed a lackluster US labor market report, which dampened hawkish Fed expectations and boosted demand for safe-haven assets like gold.

Domestic Gold Prices

In the Indian market, 24K gold increased by Rs 322 to Rs 1,47,000 per 10 grams, while 22K gold rose by Rs 295 to Rs 1,34,750. Regional variations were minimal: Mumbai and Kolkata quoted Rs 1,47,000, Delhi Rs 1,47,150, and Chennai Rs 1,49,500.

US Gold Prices

Internationally, spot gold climbed 1.4% to $4,179.94 per ounce, and US gold futures for August delivery gained 1.6% to $4,193.20. Spot silver rose 2.3% to $62.43 per ounce, platinum added 2.7% to $1,660.05, and palladium increased 1.3% to $1,284.40.

Key Levels to Watch

Kelvin Wong, senior market analyst at OANDA, noted that the market is pricing in fewer Fed rate hikes for the remainder of this year and early next year, driven by the weak US jobs data. However, he cautioned that rate hike expectations have not been completely erased, and gold could still face downside pressure, potentially testing the $3,500/oz level.

On the international front, gold has support at $4,084 and $4,040 per troy ounce, with resistance at $4,180 and $4,240. Silver support stands at $59.40 and $58, while resistance is at $63 and $64.40. On MCX, gold support is at Rs 1,44,400 and Rs 1,43,350, with resistance at Rs 1,47,100 and Rs 1,48,800. Silver support on MCX is at Rs 2,33,000 and Rs 2,26,600, with resistance at Rs 2,37,700 and Rs 2,41,000.

July 4, 2026
FTSE 100 Edges Up 23.57 Points as Weak US Jobs Data Calms Fed Rate Hike Bets

The FTSE 100 index opened 23.57 points higher at 10,693 on Friday, buoyed by softer-than-expected US employment data that eased expectations of further Federal Reserve interest rate hikes. The index later settled at 10,676.44, reflecting a cautious but positive start to the trading session.

Brent crude futures rose 0.61% to $72.34 a barrel, while US West Texas Intermediate (WTI) gained 0.47% to $69.01 a barrel, supported by the weaker dollar and renewed risk appetite.

Gainers and Losers

On the upside, Fresnillo led the advance with a 2.54% rise to £2,952, followed by SSE which gained 2.44% to £2,520. Metlen Energy & Metals added 1.77% to €42.60, and Weir Group rose 1.72% to £2,486. Anglo American climbed 1.47% to £3,796, while Aberdeen Group increased 1.42% to £257.20.

Among the decliners, Whitbread fell 0.96% to £2,376, Games Workshop dropped 0.75% to £21,320, and Next slipped 0.55% to £14,585. Coca-Cola HBC declined 0.49% to £5,115, AstraZeneca eased 0.29% to £14,496, and London Stock Exchange Group edged down 0.26% to £8,586.

Craneware Shares Plunge 20%

Healthcare software company Craneware saw its shares tumble 20% in early trading after issuing a full-year trading update that warned financial performance would be “below market expectations.” The company said pricing revenue would be between $205 million and $208 million for the year, impacted by a “deferral of a small number of significant enterprise contracts,” which it now expects to close in the next financial year.

“Naturally, we are disappointed not to have delivered the growth that we expected in full-year 2026. While the short-term complexity in the pharmacy market has impacted the year, the long-term opportunity remains intact,” said Craneware CEO Keith Neilson.

Harbour Energy Stake Sale

Investment firm EIG sold its entire 3.5% stake in London-listed oil and gas company Harbour Energy for £112 million. The transaction was executed via an accelerated bookbuild coordinated by Barclays, with Potomac, an investment vehicle controlled by EIG, offloading the shares.

US Jobs Data Weakens

The US economy added just 57,000 nonfarm jobs in June, roughly half the 113,000 forecast, with April and May figures revised lower. The unemployment rate dipped to 4.2%, driven by a fall in labor force participation rather than genuine job creation. Wage growth was in line with expectations, further reducing pressure on the Fed to raise rates.

Global Market Overview

In the US, stocks ended mixed ahead of the Independence Day weekend. The Dow Jones added 1% to close at a fresh record high, while the Nasdaq fell 0.8% as a semiconductor sell-off offset gains. The S&P 500 slipped 0.1%.

In Asia, South Korea’s Kospi surged 5.76% to 8,088.34, Japan’s Nikkei 225 advanced 1.47% to 69,744.07, and Taiwan’s TAIEX gained 0.08%. India’s Nifty 50 and Sensex rose 0.71% and 0.56%, respectively.

July 4, 2026
Wall Street Surges as June Jobs Data Softens Fed Rate Hike Outlook

U.S. stocks moved higher on Thursday after a weaker-than-expected June employment report eased concerns that the Federal Reserve might raise interest rates in the near term. The Dow Jones Industrial Average reached a new record intraday high above 52,800, while the S&P 500 also advanced. Investors shifted focus to labor market data that pointed to slower hiring while unemployment remained relatively stable.

The report pushed Treasury yields lower and lifted expectations that the Fed may leave rates unchanged at its next policy meeting. Gains in materials and consumer staples helped offset continued weakness in semiconductor stocks, allowing major indexes to climb.

June Payrolls Miss Forecasts as Unemployment Holds Steady

The U.S. economy added 57,000 nonfarm payroll jobs in June, well below economists’ expectations of around 110,000 to 115,000. Despite slower hiring, the unemployment rate came in at 4.2%, slightly better than the forecasted 4.3%. The softer data interrupted several months of stronger hiring and was seen as a sign that the labor market is cooling without broad weakness, reducing the need for the Fed to tighten monetary policy further.

Florian Ielpo, head of macro at Lombard Odier Investment Managers, described the report as “the best number we could hope for,” noting that the job market remains fine but not hot enough to accelerate inflation. Bret Kenwell, US investment analyst at eToro, added that while the report doesn’t signal labor-market trouble, it does cool the hawkish narrative.

Markets Trim Expectations for Another Fed Rate Hike

Following the employment data, traders lowered odds of a near-term Fed rate increase. The two-year Treasury yield, which closely tracks policy expectations, fell. Market pricing shifted toward a greater probability that policymakers would keep rates unchanged later this month.

Fed Chair Kevin Warsh had noted on Wednesday that inflation risks had eased, reaffirming the central bank’s 2% target. The latest jobs figures shifted attention to the labor side of the Fed’s dual mandate. Bradford Smith, portfolio manager at Janus Henderson Investors, said the print “takes some of the pressure off” the Fed to hike near term, especially with moderating oil prices and softer hiring.

Dow Reaches Another Record While Chip Stocks Lag

The Dow Jones Industrial Average set a fresh intraday record above 52,800, and the S&P 500 traded higher. However, the Nasdaq underperformed as semiconductor shares extended recent losses. The VanEck Semiconductor ETF declined, with Teradyne, KLA, Nvidia, and Micron trading lower.

Despite chipmaker weakness, market participation broadened. Materials and consumer staples led S&P 500 sector gains, and advancing stocks outnumbered decliners on both the NYSE and Nasdaq. Ielpo noted that investors are finding value outside AI and technology, favoring a broader market approach.

Investors Monitor Inflation Risks and Broader Trends

Although the jobs report eased immediate rate-hike fears, investors continue watching inflation and geopolitical developments, particularly oil price volatility tied to tensions involving Iran and the Strait of Hormuz. Indirect U.S.-Iran talks showed little progress, but oil prices moved lower on hopes that tensions would remain contained.

Active fund managers posted stronger June performance as market breadth improved. According to Jefferies strategist Steven DeSanctis, about 70% of active managers beat their benchmarks, with nearly 88% of small-cap managers outperforming as leadership expanded beyond high-growth stocks. Investors also monitored AI-related shares after recent volatility, with analysts noting that improving breadth has allowed gains to spread across sectors.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Always conduct your own research before making investment decisions.

July 4, 2026
US Job Growth Plummets to 57,000 in June as Hiring Slows and Unemployment Steady at 4.2%

The latest US jobs report reveals a sharp slowdown in hiring during June, with employers adding only 57,000 nonfarm payrolls—well below market expectations. The unemployment rate held steady at 4.2%, but the figure masks a decline in labor force participation, as fewer Americans remained in the job market.

June’s hiring total dropped by more than half from May, reflecting growing caution among companies facing high inflation, weaker consumer confidence, and global uncertainty. Many employers have slowed their hiring plans instead of expanding their workforce.

Hiring Slowdown Signals Cooling Labor Market

The Bureau of Labor Statistics also revised April and May payroll numbers downward, indicating that hiring had already weakened before June. The updated figures point to a labor market that has been losing momentum over recent months.

While the unemployment rate fell from 4.3% in May to 4.2% in June, the decline is partly due to the labor force participation rate dropping to 61.5%—the lowest in more than five years. Many individuals stopped looking for work and were no longer counted as unemployed. Household employment also fell, confirming that fewer Americans were employed.

Industry Hiring Shows Mixed Performance

Different industries showed varied hiring trends. Professional and business services added the most jobs, while healthcare and social assistance continued to hire. Manufacturing and construction posted small gains, supported by ongoing data center projects and infrastructure work.

The technology sector continued to struggle. Major companies like Meta and Microsoft have reduced staff while increasing investments in artificial intelligence. The information sector has now recorded job losses in 17 of the past 18 months. Financial services hiring remained largely unchanged during June.

Despite slower hiring, workers saw modest pay gains. Average hourly earnings rose 0.3% for the month and increased 3.5% year-over-year. Meanwhile, weekly unemployment benefit claims stayed relatively steady, suggesting companies are reducing hiring rather than cutting large numbers of jobs.

Fed Rate Outlook in Focus

The June employment report indicates that companies are becoming more cautious rather than rapidly expanding their workforce. While the labor market remains stable, job growth has clearly decelerated. Future inflation data and employment reports will help determine whether this slowdown continues.

Many economists had anticipated stronger hiring in June, especially in leisure and hospitality. Instead, payroll growth missed forecasts by a wide margin. The weaker results, combined with lower revisions for prior months, suggest the job market is cooling faster than expected.

The jobs report could influence future Federal Reserve decisions. Slower nonfarm payrolls may reduce pressure for additional interest rate increases, though inflation and wage growth remain key concerns. Investors will closely watch upcoming economic data for clearer signals about the direction of the US economy.

July 3, 2026
MCX Gold Dips to Rs 1,44,124 as Brent Crude Declines Over 1% – Key Support Levels in Focus

Gold traded lower on the Multi Commodity Exchange (MCX) on July 2 amid slightly positive global trends. August gold futures slipped 0.21% to Rs 1,44,124 per 10 grams, while September silver futures edged up 0.54% to Rs 2,231,630. Meanwhile, Brent crude futures fell 1.02% to $70.84 a barrel, and US West Texas Intermediate (WTI) declined 1.09% to $67.83 a barrel.

According to the CME FedWatch Tool, traders now see a 64% probability of a rate hike by the US Federal Reserve in September, keeping pressure on precious metals.

Domestic Gold Prices

In the domestic market, 24K gold rose by Rs 377 to Rs 1,44,550 per 10 grams, while 22K gold advanced by Rs 345 to Rs 1,32,500. City-wise prices: Mumbai and Kolkata both quoted Rs 1,44,550, Delhi at Rs 1,44,700, and Chennai at Rs 1,46,180.

US Gold Prices

US gold prices rose on Thursday, supported by softer-than-expected jobs data and lower oil prices. Spot gold climbed 0.7% to $4,057.92 per ounce. US gold futures for August delivery inched 0.3% lower to $4,070.10. Spot silver rose 1.6% to $60.06 per ounce, platinum gained 2% to $1,607.67, and palladium added 1.4% to $1,227.13.

Key Levels to Watch

“The market’s cautious about being short down here because you’re seeing a couple of probes to the downside, which are quite rapidly being rejected,” said Nicholas Frappell, global head of institutional markets at ABC Refinery. “ADP data came in a little bit lower than the forecast, so that probably explains gold’s rally as some people think that the data will be reflected in non-farm payrolls.”

Internationally, gold has support at $4,040 and $3,994, while resistance is at $4,122 and $4,164 per troy ounce. Silver has support at $58.80 and $57.40, with resistance at $61.60 and $63.20 per troy ounce.

On MCX, gold has support at Rs 1,43,100 and Rs 1,42,000, and resistance at Rs 1,45,500 and Rs 1,46,650. Silver has support at Rs 2,26,600 and Rs 2,22,500, with resistance at Rs 2,34,400 and Rs 2,38,000.

Also read: Bitcoin and Gold Face Unusual Decline as Investors Face New Market Pressures

July 3, 2026
Wall Street Opens July with Mixed Trading as Chip Stocks Decline and Iran Tensions Persist

Wall Street kicked off the second half of 2026 with mixed trading on Wednesday, as geopolitical tensions in the Middle East and profit-taking in semiconductor stocks weighed on investor sentiment. The Dow Jones Industrial Average managed modest gains, while the NASDAQ Composite fell as chipmakers retreated following a strong first half of the year. Investors also monitored fresh economic data and comments from Federal Reserve Chair Kevin Warsh ahead of this week’s US jobs report.

Middle East Tensions and Fed Outlook Keep Markets Cautious

Major US indexes traded unevenly during Wednesday’s session as renewed uncertainty surrounding US-Iran relations kept investors cautious. Tehran said it would not meet senior US officials who had traveled to the region after recent hostilities. Meanwhile, technical discussions between the two countries reportedly took place in Doha, though public statements suggested a broader agreement remained uncertain.

According to Reuters, concerns surrounding the conflict continued to influence financial markets as investors assessed possible effects on global energy supplies. At the same time, traders remained focused on monetary policy after expectations grew that the Federal Reserve could raise interest rates at least once before the end of the year.

Federal Reserve Chair Kevin Warsh spoke at the European Central Bank forum in Portugal, noting that “we’ve seen that prices are too high.” His remarks came after the central bank removed forward guidance from its latest policy statement, leaving markets dependent on incoming economic data.

The Institute for Supply Management reported that US manufacturing activity slowed in June following stronger growth during the previous month. Investors are now waiting for Thursday’s June nonfarm payrolls report for more direction on the health of the labor market.

Chip Stocks Retreat After a Record First Half

Technology shares led losses across the broader market as investors locked in gains following a powerful rally during the first six months of 2026. The information technology sector declined while several leading semiconductor companies traded lower.

Micron fell about 6%, Sandisk dropped roughly 8%, NVIDIA lost around 2%, and Broadcom also moved lower. Despite the pullback, many of these companies remain among the year’s strongest performers after benefiting from continued demand tied to artificial intelligence infrastructure.

The VanEck Semiconductor ETF gained 82% during the first half of 2026, marking its strongest first-half performance since the fund launched in 2000. Market participants said some investors were reducing exposure ahead of the upcoming corporate earnings season.

Shawn Snyder, economic strategist at Potomac Fund Management, told CNBC: “We’re in this range where valuations increasingly need to be validated. I think investors are probably just taking some chips off the table after a really tremendous first half.”

Paul Hickey, co-founder of Bespoke Investment Group, added: “Over the long term, we still like the semis, but I wouldn’t be aggressive towards it here.”

Meta Surges While Corporate Developments Drive Individual Stocks

Meta Platforms climbed about 10% after reports that the company is developing a cloud computing business designed to monetize excess artificial intelligence infrastructure. According to the report, Meta is considering offering hosted AI models or direct access to computing power for external customers.

The report boosted communication services stocks and helped offset part of the weakness seen across the technology sector. Investors viewed the potential business as another way for Meta to generate returns from its growing AI investments.

Elsewhere, Shutterstock dropped nearly 31% after ending its planned merger with Getty Images. Kroger also slipped after announcing a $1.65 billion agreement to acquire regional supermarket chain Giant Eagle.

Despite weakness in several large-cap technology names, smaller companies continued to outperform. The Russell 2000 reached a new all-time high after extending its winning streak to six sessions. The small-cap index has gained more than 21% during the first half of 2026, marking its strongest first-half performance since 1991.

As Wall Street moves into the second half of 2026, investors are maintaining optimism around AI-driven growth while monitoring concerns over valuations, interest rates, geopolitical risks, and the upcoming earnings season for clearer market direction.

Disclaimer: This article is provided for informational purposes only and does not constitute investment advice. Readers are encouraged to conduct their own research before making any investment decisions.

July 2, 2026