Gold and Silver Prices Decline Amid Easing Geopolitical Tensions
Gold and silver futures settled lower on Thursday due to easing geopolitical concerns in the Middle East and persistent inflation worries.
The price of gold dropped by 0.32% to settle at Rs142,915 as investors monitored developments after U.S. President Donald Trump stated that Iran and other Middle Eastern countries had requested additional time to finalize an agreement that could reopen the Strait of Hormuz and reduce regional tensions.
Market participants remained cautious ahead of a series of key U.S. labour market reports, including JOLTS job openings, ADP employment data, weekly jobless claims, and the nonfarm payrolls report, which are expected to provide further guidance on the Federal Reserve's monetary policy outlook.
The World Gold Council reported that global gold demand remained broadly stable at 1,268.9 metric tonnes during the second quarter of 2026 as strong central bank purchases offset ETF outflows.