Overview
- Precious-metals prices reversed on Thursday after President Trump said the United States would hit Iran “extremely hard” over the next two to three weeks.
- Following Thursday’s address, the dollar and Treasury yields climbed and Brent crude jumped roughly 5% to 6%, which reduced demand for dollar-priced metals.
- Silver fell more than gold across MCX and spot markets, with intraday drops near 6% for silver versus about 3% for gold as silver’s industrial link amplified the move.
- By Friday, international spot gold hovered around $4,650 per ounce and Indian 24K prices eased toward ₹1.48 lakh per 10 grams after a sharp two-day swing.
- Exchange data pointed to rising open interest and new short positions in gold and silver, and analysts highlighted upcoming US jobs figures and fresh US–Iran signals as key near-term drivers.