Gold steadies near record highs as Middle East burns

Gold futures dipped about $20 per ounce in Asia on Monday but held near record peaks set in April as raging Middle East tensions kept safe-haven flows alive. COMEX gold hovered close to $3436, while MCX futures eased 0.34% to ₹99934 per 10 grams. Fierce clashes between Israel and Iran, now in day four, have triggered relentless drone and missile attacks, raising fears of a wider war. Meanwhile, traders await a crucial week for central banks, with the US Federal Reserve in the spotlight. While rates are expected to stay unchanged, fresh guidance could hint at rate cuts by September, especially after soft inflation data last week. For now, gold remains well supported amid geopolitical heat and policy suspense.

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