Overview
- Global and domestic gold prices fell this week, with international spot near $4,490–4,506 per ounce and India’s retail rate reported at Rs 160,400 per 10 grams.
- The selloff followed renewed US–Iran exchanges that lifted Brent and WTI by more than 7 percent, a move traders linked to higher inflation risk and shifted flows out of non-yielding assets.
- On Monday, India’s MCX near-month gold futures slid to about Rs 153,300 per 10 grams, the weakest since May 11, and the All India Sarafa Association reported a Rs 2,500 drop in retail gold.
- Pakistan’s market mirrored the international decline with gold per tola down roughly Rs 4,400 to Rs 471,762 while local silver showed mixed moves and small gains in some reports.
- Traders now cite a firmer dollar, rising US yields and profit-taking as immediate drivers and say upcoming US jobs data and Fed or Treasury comments could decide whether bullion resumes its rally or falls further.