Gold is trading cautiously after renewed military exchanges between the United States and Iran reignited inflation concerns and increased expectations that the US Federal Reserve could keep interest rates higher for longer. Although geopolitical tensions traditionally support safe-haven assets, the prospect of tighter monetary policy and a stronger US dollar has continued to cap gains in bullion.

Internationally, spot gold is holding near $4,122 per ounce but remains on course for a weekly loss of more than 1%. Investors are closely analysing the Federal Reserve’s latest policy signals after minutes from its June meeting indicated that several policymakers remain concerned about elevated inflation. Markets have raised the probability of a September interest rate hike following the recent escalation in the Middle East, while upcoming US economic data will provide further direction on monetary policy.

Back home, domestic bullion prices have remained under pressure. Gold declined for the fourth consecutive session on Thursday, while silver registered another sharp fall as a stronger rupee reduced the cost of imported bullion and weak local demand weighed on prices. The divergence between international and domestic markets has become a key theme, with currency movements playing a significant role in determining Indian bullion prices.

Throughout the day, this live blog will track every major development affecting precious metals, including MCX and international gold prices, silver rates, movements in the US dollar, Treasury yields, Federal Reserve commentary, geopolitical developments, central bank purchases, physical demand trends and expert market views.

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