Overview
- Gold futures on MCX, which slid Friday morning, hovered near Rs 1,51,300 per 10 grams as COMEX gold fell about 1% to roughly $4,684 an ounce.
- In New Delhi, the All India Sarafa Association pegged 99.9% gold at Rs 1,56,100 per 10 grams on Thursday, with silver at Rs 2,50,000 per kilogram after a sharp drop.
- Analysts tied the slide to a firmer US dollar, higher Treasury yields, and a rebound in crude toward $95–$100 a barrel, which lifted inflation worries.
- Reports pointed to persistent friction in the Strait of Hormuz, where Iran labeled maritime limits an act of war and President Donald Trump told the US Navy to counter minelaying activity.
- Traders looked to the University of Michigan consumer sentiment reading on Friday for fresh cues on the Federal Reserve path that could steer near‑term bullion moves.