India Gold Slips to Rs 1.54 Lakh Amid Mixed Iran Ceasefire Signals

Gold prices in India eased to Rs 1,54,513 per 10 grams on MCX as mixed signals on an Iran ceasefire extension weighed on sentiment. The move follows New Delhi’s May 13 tariff hike to 15% that slashed fortnightly demand 70% to 7.5 tonnes and created a $150/oz domestic discount. Despite the slump, the Royal Mint posted record Q1 bullion sales and Bank of America maintained its $6,000/oz year-end target amid rupee weakness and central-bank buying.