Price Movement – Gold and Silver prices are trading around support levels as the Middle East conflict kept escalating with no signs of slowing down, wiping out recent optimism about easing inflation and stirring worries that rising oil prices could force the Fed’s hand on interest rates. Investors are now turning their attention to remarks from Dallas Fed President Lorie Logan and Fed Vice Chair Philip Jefferson, both due to speak later today.

Geopolitical Tensions – The US carried out fresh strikes on Iranian targets on Wednesday, though President Trump said Tehran had shown some willingness to return to the negotiating table..

Macro-Economic Signals – US consumer and producer inflation both slowed in June, helped by falling energy costs, adding to evidence that inflation was cooling off before the latest flare-up in the Middle East. Even so, traders are still pricing in roughly a 73% chance of a December Fed rate hike, according to the CME FedWatch Tool.

Technical Triggers   

Gold’s next move still hinges on how the US-Iran situation develops. Holding above $4,090 (~₹1,44,000) could open the path to $4,160 (~₹1,47,000). But a slip below $4,000 (~₹1,40,000) risks a deeper slide toward $3,900 (~₹1,37,000).

A sustained move above of Silver above $63 (~₹2,30,000) could push it toward $70–71 (~₹2,51,000–2,55,000), while a break below $58 (~₹2,20,000) could drag it down to $55 (~₹2,10,000) and even $50 (~ ₹1,90,000).

Dr.Renisha Chainani, Head- Research, Augmont