Overview
- This short rebound pushed international spot gold to roughly $4,100–$4,140 per ounce and spot silver toward $60 per ounce on Thursday after several sessions of selling pressure.
- Analysts and traders said safe‑haven buying from renewed Middle East tensions, a spike in oil prices and renewed physical and ETF demand powered the rally.
- India and Pakistan saw sharp retail moves with Indian 24K spot rates near Rs1.46–1.49 lakh per 10 grams and Pakistani local rates rising similarly while MCX futures showed intraday volatility.
- Several banks and strategists cautioned that higher real US yields, a stronger dollar and technical indicators raise the odds that the rebound is temporary unless the Fed signals looser policy.
- What to watch next are the Federal Reserve meeting, oil route developments that affect crude prices and US Treasury yields because each could either sustain safe‑haven flows or push bullion back down from January highs.