Gold prices mostly flat as U.S.-Iran Gulf tensions escalate
Gold prices stayed mostly flat this week while the world watched U.S.-Iran tensions heat up.
The situation got tense in the Gulf after the US destroyed six Iranian boats and intercepted cruise missiles and drones in the Gulf region.
Both countries set up maritime blockades, putting a fragile truce at risk and making global shipping routes uncertain.
Gold slips, silver volatile globally
In India, gold dropped by ₹2,000 to ₹152,800 per 10gm thanks to a stronger dollar and higher Treasury yields. Globally, gold slipped 1.07% to $4,565.68 per ounce.
Silver was all over the place, up by ₹6,800 in India but down 2.55% worldwide.
Analysts say rising crude oil costs are fueling inflation worries and keeping interest rates high, so investors are staying cautious with more price swings likely as new US payroll data comes out soon.