Gold edges higher as oil rises and inflation worries persist
Gold prices inched higher this week, thanks to rising oil costs and worries about inflation.
Globally, gold hit $4,550.70 an ounce (up 0.38%), while silver barely moved at $73.65 an ounce.
In India, gold futures opened slightly up at ₹149,490 per 10gm, but silver dipped to ₹243,600 per kilogram.
Rupee slides, gold ETFs record ₹31,561cr
The rupee slid below 95.05 as foreign investors pulled out and oil prices climbed. Analysts say the rupee could bounce between 94.50 and 95.40 for now.
Meanwhile, Indian gold ETFs saw record inflows of ₹31,561 crore in Q1 FY26, likely because gold prices jumped 63% and more people are choosing gold over stocks during uncertain times.
Experts forecast gold $4,500 to $4,850
Experts predict gold will trade between $4,500 and $4,850 (₹148,000 and ₹155,000), while silver could move between $71 and $80 (₹235,000 and ₹255,000).
The safe-haven appeal of gold is strong right now with all the economic uncertainty around inflation and global markets.