Bullion steadies after 2% slump; Fed, geopolitics in spotlight

Gold prices ticked up above $3350 per ounce in Asian electronic trades on Thursday, recovering slightly after a steep 2% fall in the previous session. The rebound was driven by bargain buying, though gains remained limited as easing Middle East tensions reduced safe-haven demand. The US-brokered ceasefire between Iran and Israel continued to hold, weighing on bullion sentiment. The US dollar index inched up but stayed below 98, reflecting subdued haven flows. MCX August gold futures rose 0.26% to ₹97275. Markets now await Powell?s Senate testimony and fresh US housing data for further cues.

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