Gold futures drops nearly 4% to ₹1.47 lakh/10g as Trump’s Iran warning lifts dollar

Gold prices plunged ₹6,004 to ₹1.47 lakh per 10 grams in futures trade on Thursday (April 2, 2026) amid intensified geopolitical tensions in West Asia that boosted the U.S. dollar and dampened the investors’ sentiment.

Snapping a four-day winning streak, the yellow metal for the June delivery plunged ₹6,004, or 3.91%, to ₹1,47,704 per 10 grams on the Multi Commodity Exchange.

Analysts said precious metal prices declined as the U.S. dollar rebounded following remarks by President Donald Trump indicating a potential escalation in the ongoing conflict with Iran.

Gold prices declined on Thursday, ending a four-day gain, as the U.S. dollar rebounded after President Donald Trump warned that the military campaign in Iran could continue with more intense action over the next two to three weeks, Jigar Trivedi, senior research analyst at IndusInd Securities, said.