Overview
- Spot gold steadied just under $4,500 on Wednesday after a near 2% drop Tuesday, as 30-year U.S. yields reached their highest since 2007.
- Mixed signals on the U.S.–Iran conflict — from talk of a quick deal to warnings of renewed strikes — kept day-to-day swings sharp and pulled oil into focus.
- In India, 24-carat quotes hovered near ₹159,350 per 10 grams, and a weaker rupee cushioned local prices against the global slide.
- India’s latest policy moves raised gold and silver import duties to 15% and shifted certain silver bars to “Restricted,” which is tightening supply and altering local premiums.
- Major banks, including Goldman Sachs, say heavier central-bank buying supports a bullish medium-term view even as short-term trading stays range-bound.