Price movement– Gold and silver remain under pressure as Middle East uncertainty sustains investor caution around inflation risk. The dollar holds firm after renewed US strikes on Iranian targets and signals that a diplomatic resolution may be delayed, undermining expectations of an imminent Strait of Hormuz reopening.

Geopolitical Developments – US Central Command conducted strikes on missile launch sites and vessels suspected of mine deployment in southern Iran, framing the operations as force protection measures. President Trump acknowledged ongoing diplomatic engagement with Tehran but cautioned that military action could resume if talks collapse.

Macro-economic Signals – Gold is down nearly 15% and silver nearly 20% since the conflict began, as energy-driven inflation fears reinforced central bank tightening expectations. However, the week’s sharp oil price decline has partially eased inflation concerns and tempered rate hike bets.

Technical Triggers   

Gold is ranging between $4,450–$4,600. RSI at 46 signals neutral momentum; MACD is flat — no directional conviction. Short-term bias leans toward mild consolidation.

Silver continues to oscillate between $72–$78.50. Range-bound momentum is expected to persist absent a definitive breakthrough in US-Iran negotiations.

Dr.Renisha Chainani, Head- Research, Augmont