Gold Price Prediction: Yellow metal dips to Rs 99,258/10 gms amid hawkish fed comments; analysts eye recovery

Following a stern address from the US Federal Reserve, gold prices experienced a decline, affecting MCX August gold and silver futures right from the start. With interest rates unchanged, Fed Chair Jerome Powell raised red flags about inflation and potential economic deceleration. However, the escalating tensions in the Israel-Iran conflict are providing a cushion for precious metal prices.