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Commodity News Details
Gold slips below $5200 as profit-taking tempers rally
11-Mar-2026 14:47
Gold futures slipped below $5200 per ounce in electronic trading on Wednesday as profit-taking cooled the recent safe-haven rally despite persistent geopolitical tensions. The US-Israeli offensive against Iran entered its 12th day, with the Pentagon reporting its most intense strikes yet, even as President Donald Trump hinted that the conflict could end soon. Oil prices were meanwhile capped by reports that the International Energy Agency may coordinate the largest release of strategic reserves in history, though supply concerns persist as the Strait of Hormuz remains effectively closed. On the domestic front, MCX April gold futures eased 0.7% to Rs 162,173 per 10 grams, while May silver futures declined over 2% to Rs 270,600, as investors await key US CPI and PCE data ahead of the Federal Reserve's March 17'18 policy meeting.

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