21-May-2026 14:22

Gold futures traded marginally higher near $4,530 an ounce during the mid-Asia electronic session on Thursday, though bullish momentum remained subdued as easing geopolitical tensions reduced safe-haven demand. Silver and base metals declined nearly 1% amid growing optimism that a potential US-Iran peace agreement could lower inflationary pressures and reduce the likelihood of further interest rate hikes. President Donald Trump stated that negotiations with Iran were in the final stages, raising hopes that the Strait of Hormuz could soon reopen and restore normal shipping flows. The prospect of smoother energy supplies triggered a sharp drop in oil prices, helping ease inflation concerns globally. Meanwhile, the dollar index slipped toward 99 after retreating from a six-week high. On the domestic front, MCX June gold futures fell 0.3% to Rs 159,546 per 10 grams, while July silver futures dropped 1% to Rs 275,526 per kg.

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