Gold prices declined Rs 853 to Rs 1.62 lakh per 10 grams in futures trade on Wednesday tracking a bearish sentiment in the international markets amid mixed signals surrounding the ongoing conflict in West Asia. According to the Multi Commodity Exchange, the yellow metal for April delivery depreciated by Rs 853, or 0.52 per cent, to Rs 1,62,450 per 10 grams in a business turnover of 7,529 lots. Analysts said the recent gains in the precious metal prices faded as developments surrounding the conflict involving the US, Israel and Iran remained uncertain, keeping the investors cautious. In the international markets, gold futures on the Comex for April delivery slipped USD 30.15, or 0.58 per cent, to USD 5,211.95 per ounce. "Part of the gains faded amid conflicting developments surrounding the ongoing US-Israel conflict with Iran. The evolving geopolitical situation continues to cloud the outlook for Washington's monetary policy, particularly expectations for potential interest rate cut
Oil prices dropped below $90 per barrel, cooling inflation concerns, a day after US President Donald Trump predicted a quick end to the war with Iran
Tata Mutual Fund advises staggered investment in gold and silver as the Iran conflict fuels geopolitical uncertainty and strengthens safe-haven demand
The price of 22-carat gold increased by ₹10, with ten grams of the yellow metal selling at ₹1,48,860
The price of 22-carat gold decreased by ₹10, with ten grams of the yellow metal selling at ₹1,48,190
The price of 22-carat gold decreased by ₹10, with ten grams of the yellow metal selling at ₹1,49,990
Bullion fell as much as 2.5 per cent to below $5,050 an ounce in early trading, after its first weekly decline in more than a month
The price of 22-carat gold decreased by ₹10, with ten grams of the yellow metal selling at ₹1,47,690
In India, equities are often a long-term wealth creation product and flows typically normalise once volatility stabilises, Upadhyaya said.
Gold price outlook: Gold is caught between safe haven demand support and selling coming on a firmer US Dollar
The price of 22-carat gold decreased by ₹10, with ten grams of the yellow metal selling at ₹1,49,290
Spot gold was up 0.5 per cent at $5,166.3 per ounce as of 1800 ist, while US gold futures for April delivery were up 0.7 per cent at $5,168.20
Oil prices, Rogers said, could definitely cross $100 a barrel again, especially if the geopolitical developments continue.
Spot gold gained 1.6 per cent to $5,168.69 per ounce as of 0249 GMT while US gold futures for April delivery added 1.1 per cent to $5,178.40
Gold ETFs were also under pressure. Axis Mutual Fund Gold ETF, Union Gold ETF, and The Wealth Company Gold ETF traded lower by over 4 per cent
The price of 22-carat gold decreased by ₹10, with ten grams of the yellow metal selling at ₹1,53,640
Spot gold was up 1 per cent at $5,377.21 per ounce. US gold futures for April delivery were up 1.5 per cent at $5,391.90
The price of 22-carat gold fell by ₹10, with ten grams of the yellow metal selling at ₹1,56,290
The US and Israel fired missiles across Iran on Saturday, with the Supreme Leader Ayatollah Ali Khamenei being killed
Data on Friday showed that US producer prices rose more than expected in January, suggesting inflation could pick up in coming months