Overview
- Spot gold leapt more than 2% to roughly $5,400 per ounce after the weekend strikes and reports of Ayatollah Ali Khamenei’s death, then eased toward the low $5,300s as the dollar firmed, with silver whipsawing sharply.
- In India, the All India Sarafa Association reported silver at Rs 3,00,000/kg and gold near Rs 1,72,800 per 10g on Monday before prices later eased toward about Rs 1,70,020 for 24k gold across major cities.
- In Pakistan, APGJSA data showed a Rs13,300 jump to Rs563,862 per tola on Monday, followed by a Rs13,900 drop to Rs549,962 as international spot retreated by about $139 to near $5,272.
- Risk‑off trading deepened across assets as oil surged roughly 8–9% and equity futures fell, while the stronger greenback tempered further bullion gains.
- Physical flows faced strain with UAE airspace restrictions suspending Dubai precious‑metal shipments, and broker forecasts pointed to $6,000–$6,300 per ounce scenarios if the conflict endures and central‑bank and ETF demand stays firm.