Overview
- Gold and silver, which climbed Wednesday after President Trump extended the truce indefinitely, rose about 1% and 2% on COMEX and touched intraday highs of Rs 1,53,699 per 10g and Rs 2,50,698 per kg on MCX.
- Planned talks between Washington and Tehran fell through Tuesday as Iran declined to attend, and Vice President JD Vance canceled a trip to Islamabad that was tied to the meeting.
- A stronger US dollar and higher Treasury yields pressured bullion earlier in the week, with Pakistan’s domestic rates tracking global losses during Tuesday’s session.
- Federal Reserve chair nominee Kevin Warsh told senators he would not commit to cutting interest rates, a stance that tends to weigh on non‑interest‑paying assets like gold.
- The Strait of Hormuz remains closed to shipping under a US naval blockade, keeping energy and inflation risks elevated, while gold stays range‑bound and is down about 10% since late February.