Jewellery demand has reportedly strengthened as consumers viewed recent price action as a buying opportunity, with retailers and manufacturers replenishing inventories ahead of the festive season, the WGC said.

Gold demand conditions are improving in the country as consumers responded to lower and more stable prices, raising expectations of a stronger festive season, according to the World Gold Council’s latest India Gold Market Update.

For bullion traders, the day’s moves reflected a market caught between geopolitical uncertainty and rising energy costs, with gold’s safe-haven appeal failing to translate into gains at home, analysts said.

In international markets, spot gold gained nearly 1 per cent to USD 4,361.76 per ounce, while silver traded flat at USD 63.33 an ounce, as investors awaited Federal Reserve meeting minutes for interest-rate cues.

Gold prices traded weak as higher crude oil rates and continued uncertainty after the US-Iran ceasefire window ended without fresh talks kept investors’ sentiment cautious, said Jateen Trivedi, VP Research Analyst at LKP Securities.

Silver also declined, dragged by heavy selling, tumbling Rs 5,730 to Rs 2,35,000 per kilogram, from the previous close of Rs 2,40,730 per kg.

Gold is expected to retain a positive bias amid a weaker dollar, softer Treasury yields and fading expectations of a near-term US rate hike. Brent crude remains cautiously bullish amid geopolitical risks, but strong Gulf exports and weak demand could cap gains and pull prices towards $80 per barrel, according to Kotak Neo, as cited by ANI.

Gold’s bias remains positive, but a sustained break above $4,400 an ounce is needed for further gains, while renewed energy inflation or higher yields could trigger consolidation. Brent crude could eventually decline towards $80 per barrel due to sustained Gulf exports and weak demand, Kotak Neo said, as cited by ANI.

Gold is expected to remain positive, supported by a weaker dollar and reduced expectations of a near-term US rate hike. Brent crude, meanwhile, could move towards $80 per barrel as continued Gulf exports and weak demand offset geopolitical risks, Kotak Neo said, as cited by ANI.

Gold prices rose 0.2% to $4,342.33 an ounce in early Asian trade as US Treasury yields eased. Oil prices rose after Donald Trump said no talks were taking place with Iran and insisted the Strait of Hormuz was open, contradicting Iran’s assertion that the waterway remained shut. Investors also awaited the Federal Reserve’s meeting minutes.

Spot gold climbed 0.2% to $4,342.33 per ounce on Wednesday after falling nearly 2% a day earlier. US Treasury yields eased from recent highs, while investors awaited the Federal Reserve’s meeting minutes for fresh indications on monetary policy. Traders currently see a 65% probability of unchanged rates and a 35% chance of a September hike.

Gold prices edged higher in early Asian trading as US Treasury yields eased, with investors awaiting the Federal Reserve’s meeting minutes due at 1800 GMT. Spot gold rose 0.2% to $4,342.33 per ounce after declining nearly 2% in the previous session. December US gold futures fell 0.6% to $4,396.30.

Spot gold edged 0.2% higher to $4,342.33 an ounce as US Treasury yields retreated from recent highs. The move came after gold fell nearly 2% on Tuesday. Investors are awaiting the Federal Reserve’s latest meeting minutes, with markets pricing a 65% probability of unchanged rates and a 35% chance of a September rate hike.

Gold prices rose 0.2% to $4,342.33 per ounce in early Asian trade on Wednesday as US Treasury yields eased from recent highs. The precious metal had fallen nearly 2% in the previous session, while December US gold futures slipped 0.6% to $4,396.30. Investors are awaiting the Federal Reserve’s meeting minutes for clues on the interest-rate outlook.