Overview
- Domestic benchmarks reported on Wednesday that 99.9% purity gold was unchanged at Rs 1,46,300 per 10 grams while silver fell Rs 100 to Rs 2,26,000 per kilogram.
- Traders said muted buying by jewellers and industrial users kept domestic bullion range-bound and limited price movement in New Delhi.
- The US Central Command said it launched a new wave of strikes against Iran and President Donald Trump warned of further strikes, factors that pushed risk premiums higher for oil and metals.
- International spot prices showed modest weakness with spot gold near USD 4,030 per ounce and silver around USD 58 per ounce as crude inched up but gains stayed capped.
- Analysts said the combination of softer US inflation data, dollar moves and Mr. Trump’s reversal of a proposed Hormuz fee has curbed larger rallies, and markets will watch further Gulf escalation and US policy signals for the next leg of moves.