Overview
- Spot gold hovered near $5,100–$5,150 per ounce after spiking above $5,400 earlier in the week, leaving the metal down roughly 3% on the week by Friday morning trade.
- Indian 24K retail prices eased to about ₹1.62–₹1.64 lakh per 10 grams, with official sarafa figures showing gold down ₹7,600 and silver down ₹27,700 per kg on heavy profit‑booking.
- MCX futures rebounded in early Friday trade, with gold up about 0.75% to ₹1,60,876 per 10 grams and silver up 2.33% to ₹2,68,297 per kg.
- Reports of escalating US‑Israel‑Iran hostilities, rising energy prices and a shifting US dollar drove sharp intraday swings, with silver showing larger percentage moves than gold.
- Traders are watching US jobless claims and the February payrolls report for rate clues as banks outline divergent outlooks, including Morgan Stanley’s view that recent weakness is tactical.