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Gold Slips Below 145000 as Geopolitical Risk Premium Fades
Gold dips below Rs1,45,000 on MCX as US-Iran talks progress; COMEX gold under $4,100. Crude stuck at $72-73. Indian equities rally but commodities diverge.
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Gold slipped below Rs1,45,000 on the MCX on Wednesday. COMEX gold stayed under $4,100. Silver opened with a gap-down near Rs2,22,000 on MCX, with COMEX silver hovering around the $60–$61 support zone, as per exchange data. Crude oil remained range-bound at $72–$73 a barrel internationally; MCX crude was near Rs6,900.
Easing geopolitical tensions around the Strait of Hormuz and progress in US-Iran peace talks capped any sharp upside in energy prices. The same forces trimmed safe-haven demand for gold and silver, the market data showed.
The commodity weakness coincided with a strong recovery in Indian equities. The Sensex jumped 705 points to 76,906, with the Nifty reclaiming 24,000. SBI Securities said the recovery was led by frontline private sector banks and consumer stocks. The automobile sector remained under pressure, with Bajaj Auto falling 2.23% and Maruti dropping 1.66%. That pattern suggests lower fuel costs are helping consumer discretionary stocks, not energy producers.