Overview
- India lifted import taxes on gold and silver to 15% and raised platinum to 15.4% to curb purchases and cut its import bill.
- Officials cited a surge in gold and silver inflows, which climbed 26.7% year over year to $102.5 billion in the 2025–26 fiscal year.
- The U.S. dollar index held near 98.335 after inflation data pushed Treasury yields higher and dampened demand for riskier assets.
- Gold in spot trade edged up 0.3% to $4,699.87 an ounce as the dollar eased, while U.S. June futures hovered near $4,706.90.
- The yen traded near 157.72 per dollar after a sudden rise spurred talk of a potential rate review and possible support actions, as the yuan hovered around 6.79 near its strongest level since February 2023.