India's gold futures face positive outlook, support at ₹96,000

Gold futures on India's MCX closed flat on Friday, July 4, despite an early session gain, with a positive outlook and support expected around ₹96,000 per 10 grams. The flat close followed a jump earlier in the day due to a weaker US dollar, influenced by the US House passing President Trump's tax cut bill, while global gold prices also rose slightly. The market is watching the upcoming tariff pause deadline. Analysts are monitoring the impact of potential US tariffs on India and the US Federal Reserve's policy direction, with global gold prices near $3,340 per ounce, influenced by economic data and trade negotiations.