Yemen’s Houthis targeted a commercial ship in the Red Sea for the first time in months, helping lift Brent crude nearly 6% in a day to $99.51 a barrel. As the oil surge stoked inflation worries and reinforced expectations of further US Federal Reserve tightening, international spot gold fell 1% to $4,091.17 an ounce. In India, gold dropped ₹400 to ₹1,49,200 per 10 grams and silver fell ₹300 to ₹2,29,700 per kilogram.

Spot gold climbed 1.16% to $4,125.24 an ounce, touching a two-week high of $4,140 intraday, while silver gained nearly 1% to $59.32 an ounce. In India, gold rose ₹1,900 to ₹1.49 lakh per 10 grams and silver rebounded ₹8,500 to ₹2.30 lakh per kilogram. The move was driven by a mix of firmer global cues, renewed physical demand and value buying, alongside ETF inflows. Markets were also watching developments around U.S.-Iran talks and the upcoming Federal Reserve policy meeting.

Gold prices climbed as investors followed diplomatic efforts aimed at easing tensions between the United States and Iran, including reports that mediators floated a 10-day ceasefire proposal to Iran. Comex gold futures for August delivery rose nearly 2% to USD 4,082.20 per ounce, while MCX gold contracts for August gained nearly 1% to Rs 1,42,376 per 10 grams. Prices rebounded after finding support near USD 3,960 per ounce. Analysts also pointed to light ETF positioning and ongoing central-bank buying as factors underpinning near-term momentum.

U.S. airstrikes on Iran followed attacks on U.S.-linked facilities in Jordan, escalating the West Asia conflict. Comex gold fell 2.3% over the week to USD 4,018.8 an ounce, while silver slid 6.4% to USD 56.32 an ounce, with MCX gold and silver futures also declining. Analysts said a stronger dollar, surging crude prices and firmer expectations of U.S. rate hikes have weighed on precious metals.

Gold prices in India were unchanged for a second day at ₹1,46,300 per 10 grams on July 16, while silver extended its losing streak with a ₹1,500 drop to ₹2,24,500 per kg, an over two-week low. Global bullion prices also weakened, with spot gold down nearly 1% to $4,030.84 an ounce and silver down 1.7% to $56.79 an ounce. Analysts said West Asia geopolitical tensions supported safe-haven demand for gold, but softer US inflation data limited gains, while silver remained pressured by weaker industrial demand and shifting rate expectations.

Container Corporation of India (CONCOR) reported June-quarter container throughput of 14.048 million TEUs, up 8.9% year on year, with EXIM volumes rising 9.8% and domestic volumes up 6.2%. The company said the figures are provisional. The stock gained 5.51% on the day to Rs 489.50. Despite the move, the shares are down more than 7% in 2026 and over 21% over the past year.

L&T Finance reported Q1 FY27 consolidated net profit of Rs 916.0 crore, up 31% year on year, while revenue rose 22.4% to Rs 5,213 crore. Interest income and fee income both increased sharply, and provisioning pressure remained manageable. Earnings per share improved to Rs 3.60. The results mark the company’s first quarterly report of FY27 with no exceptional items, delivering a materially stronger-than-expected operating performance.

Gold prices in Delhi fell for a fourth straight session on July 9, with 99.9% purity gold down Rs 350 at Rs 148,100 per 10 grams. Silver also weakened, sliding Rs 7,800 to Rs 232,000 per kilogram. The decline was driven by a stronger rupee against the U.S. dollar that lowered import costs, along with subdued local physical demand. Overseas gains—gold up 1% to USD 4104.75 an ounce and silver up more than 1%—had a muted impact on domestic prices due to the currency effect.

On July 8, India’s MCX gold futures for August delivery fell Rs 2,308 (1.59%) to Rs 1,43,084 per 10 grams. In New York, Comex August gold futures dropped USD 94.69 (2.28%) to USD 4,062.71 per ounce. The decline came as escalating geopolitical tensions in the Middle East lifted crude oil prices, pushing up inflation expectations and the US dollar index, weighing on gold’s appeal as a non-yielding asset.