Overview
- The Federal Reserve kept rates at 3.5%–3.75% and flagged inflation risks, lifting the dollar and Treasury yields and curbing the appeal of non‑yielding metals.
- Spot gold fell to roughly $4,666–$4,850 per ounce at Thursday lows as silver dropped to about $70–$76, setting one‑month or early‑February troughs after multi‑day declines.
- On India’s MCX, gold futures plunged toward Rs 1.44–1.51 lakh per 10 grams with prints near Rs 1.49 lakh, while silver futures slid to roughly Rs 2.39–2.43 lakh per kilogram.
- Retail prices in major Indian cities tracked futures, with gold near Rs 1.53 lakh per 10 grams and silver broadly between Rs 2.38 lakh and Rs 2.48 lakh per kilogram.
- Brent crude jumped past $110 and briefly above $115 after strikes on regional energy sites and Gulf shipping strains tied to Iran, intensifying inflation worries and pushing out expected Fed cuts.