After a slight drop which was seen in the previous day. Gold’s June contracts on the Multi Commodity Exchange of India (MCX) opened at Rs 95,344 per 10 gram today.

“Comex Gold (August) futures surged to $3,326 per ounce yesterday, closing 1.6% higher, as the US dollar slipped to a two-week low amid challenges to President Trump’s tax bill and his warning that a failure to pass the bill could result in massive tax hikes. Strong demand from China also supported gold prices, with April imports rising 73% month-on-month to 127.5 metric tons, the highest level in 11 months, despite record-high prices. Meanwhile, dovish comments from ECB officials, signaling potential rate cuts, and ongoing trade tensions, particularly with Japan, added to market volatility. Today, gold extended its gains to $3,344 per ounce, supported by continued dollar weakness and rising geopolitical tensions following reports of a potential Israeli strike on Iranian nuclear facilities. Speeches from Federal Reserve officials will be closely watched. So far this week, several FOMC members have emphasized a cautious, wait-and-watch approach, suggesting the Fed may not be ready to lower interest rates before September due to tariff-related uncertainty,” said Kaynat Chainwala, AVP of Commodity Research at Kotak Securities.