Gold Slips ₹400 to ₹1,49,200 per 10 grams as Oil Rally Pressures Bullion
AI Market Summary
A renewed Houthi attack in the Red Sea pushed Brent up nearly 6%, reviving inflation concerns and reinforcing expectations for tighter Fed policy. Rising real-rate expectations weighed on bullion, driving spot gold down about 1% and pressuring local Indian gold and silver prices. The story is macro-relevant as energy-driven inflation shocks can quickly reprice rates, FX, and precious metals risk premia.
Impact level
● High
Affected assets
NCCOGOLD2USD/USDT-2.47%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▼ Bearish
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Gold prices in India retreated on renewed inflation jitters after oil surged, following a Houthi attack on a merchant vessel in the Red Sea—the first in months. Brent crude jumped nearly 6% in a single session to $99.51 a barrel. As the oil spike revived concerns over higher inflation and stronger expectations of further Federal Reserve rate hikes, international spot gold fell 1% to $4,091.17 an ounce. Domestic gold mirrored the move, easing ₹400 to ₹1,49,200 per 10 grams. Silver also weakened, down ₹300 to ₹2,29,700 per kg.
