Gold, silver prices rise on MCX after soft US inflation data, but US-Iran conflict cap gains

Gold and silver prices rose on MCX after softer US inflation data reduced expectations of aggressive Fed rate hikes, pushing the US dollar index down to 100.76. US CPI inflation eased to 3.5% in June 2026 from 4.2% in May, with a 0.4% month-on-month decline, while core inflation came in at 2.6% YoY versus 2.8% expected. However, gains were capped by escalating US-Iran tensions, with US strikes on Iran entering a fourth consecutive day, while Brent crude traded about 1% higher near $86 per barrel.