Overview
- International prices retreated to roughly one-month lows, with gold near $4,850 per ounce and silver around $75–$76.
- The Federal Reserve left its benchmark rate at 3.5%–3.75%, reinforcing a hawkish pause that damped expectations for near‑term cuts.
- Brent crude jumped to about $112 a barrel, stoking inflation fears that boosted the dollar and pressured precious metals.
- India mirrored the global slide: MCX gold futures hovered near ₹1.51 lakh per 10g and silver futures fell to about ₹2.39 lakh per kg, extending a multi‑session slump.
- Investor risk‑off flows into ETFs faded, with HDFC Silver ETF down 4.67% and HDFC Gold ETF off 2.44%, as analysts said safe‑haven interest was outweighed by dollar and policy headwinds.