Iran offers to reopen Strait of Hormuz: what it means for gold and markets
Iran has proposed reopening the Strait of Hormuz if the US eases military pressure. Analysts say this could lower oil prices and support gold, affecting Indian markets.
Gold Market
Iran has proposed reopening the Strait of Hormuz if the US eases military pressure. Analysts say this could lower oil prices and support gold, affecting Indian markets.
An Elliott Wave analyst has revised his counts for the stock market, crude oil, and gold, pointing to a retracement in equities and further upside in oil.
Gold fell Rs 800 per 10 grams on the MCX while silver gained Rs 1,000 per kg, supported by a subdued dollar and weaker crude oil prices amid global interest rate uncertainty.
Gold, silver and crude oil remain in focus as markets digest the latest US Fed rate hike. Analyst Vandana Bharti shares key levels and the outlook through 2026.
Commodity markets are volatile as West Asia tensions disrupt supply chains. ICICI Direct's Pankaj Pandey explains the outlook for gold, metals and crude oil, and what it means for stocks.
Gold declined 0.9% to $4,360 after US producer prices and surging oil prices fuelled expectations of a hawkish Fed, sending yields and the dollar higher.
The Nifty slipped below 23,450 to hit a new three-month low amid selling in real estate, auto and IT. PSU banks and oil & gas stocks offered support as crude rose above $100.
Gold and silver prices declined for a second day on the MCX as traders assessed Middle East tensions, rising crude oil, and a 60% chance of a Fed rate hike. US inflation data is the next focus.
Crude oil posted its first weekly decline in three weeks as improved flows through the Strait of Hormuz eased supply fears. Brent fell over 5%, WTI over 4%. The move has implications for gold.