Gold tops $4,200 as inflation worries ease, while Indian markets see modest declines
Global gold prices moved above $4,200 per ounce as inflation concerns softened, but Indian gold futures slipped after an initially strong start, and silver also fell in the domestic market.
International markets saw gold climb past $4,200 per ounce as inflation worries receded, while silver also posted modest gains on the Comex. In contrast, Indian exchanges experienced a pullback: the MCX December gold contract opened about ₹97 higher but later fell roughly ₹654, and the December silver contract opened lower by ₹261 and remained down by about ₹451. The shift came after Donald Trump said Russia would deliver hundreds of thousands of tonnes of diesel, prompting expectations of reduced global fuel strain.
Analysts highlighted short-covering activity in both metals, noting declines in open interest—2.71% for gold and 8.92% for silver. Support and resistance levels were identified for both commodities, suggesting potential further moves if prices hold above or fall below key thresholds.
Why it matters
Precise metal price shifts affect investors, manufacturers and consumers worldwide.
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