Mumbai, July 21: Gold and silver prices traded higher on Tuesday, tracking gains in global bullion markets as easing crude oil prices and persistent geopolitical tensions in the Middle East boosted demand for safe-haven assets.

On the Multi Commodity Exchange (MCX), gold futures for August delivery climbed as much as 1.03 per cent or Rs 1,460 to touch an intraday high of Rs 1,42,848 per 10 grams at around 11:20 am. Meanwhile, silver futures for September delivery rose 1.54 per cent or Rs 3,380 to an intraday high of Rs 2,21,780 per kg.

At the last count, the yellow metal was trading at Rs 1,42,741, up Rs 1,353 or 0.96 per cent after touching an intraday low of Rs 1,42,157.

On the other hand, the white metal at Rs 2,21,402, gaining Rs 3,002 or 1.37 per cent after hitting a session low of Rs 2,19,200 so far.

Earlier in the day, gold and silver opened at Rs 1,42,386 per 10 grams and Rs 2,19,200 per kg, respectively, on the commodity exchange.

The rally in domestic bullion prices mirrored global trends after Brent crude slipped below the $90-a-barrel mark amid reports of diplomatic efforts to de-escalate the conflict in the Middle East.

International gold prices also moved higher after oil prices retreated following reports that the US had ended its latest round of airstrikes targeting Iran.

The latest developments follow a sharp rally in crude oil prices that briefly pushed Brent above the $90-a-barrel level, fuelling concerns over higher global inflation and the possibility of further monetary tightening by major central banks, including the US Federal Reserve.

According to the commodity market experts, bullion prices have remained volatile in recent weeks as investors weigh geopolitical risks against expectations for the US Federal Reserve’s interest rate path.

Higher interest rates generally reduce the appeal of non-yielding assets such as gold by increasing the opportunity cost of holding them, they added.

They further noted that persistent geopolitical uncertainty has continued to support safe-haven demand, offsetting pressure from a stronger US dollar.

Mumbai, July 20: Domestic equity markets opened lower on Monday, tracking weak global cues and spike in crude oil prices amid escalating tensions in the Middle East kept investors cautious.

Sensex fell over 500 points or 0.7 per cent to an intraday low of 77,591 in early trade, while Nifty started the session 144 points or 0.6 per cent lower at 24,190.05.

Sectorally, selling pressure was concentrated in financial stocks, with Nifty Private Bank index dropping more than 2 per cent, followed by the Nifty Realty index, which slipped over 1 per cent.

In contrast, the Nifty PSU Bank index gained around 1 per cent, while the Nifty Pharma, Nifty Healthcare, Nifty Metal and Nifty Oil & Gas indices traded in positive territory.

Among Nifty constituents, HDFC Bank, Axis Bank, Kotak Mahindra Bank, IndiGo and Shriram Finance emerged as the top losers in early trade.

According to market experts, despite the weak global backdrop, the domestic market’s technical structure remains resilient, and any decline is likely to attract buying at lower levels. They said the derivatives setup continues to support a bullish undertone, with the Nifty expected to find immediate support around the 24,100 level, while 24,500 is likely to act as the key resistance.

Meanwhile, international oil prices surged after the Middle East conflict escalated further over the weekend, with the United States and Iran exchanging fresh attacks.

Brent crude rose nearly 3 per cent to approach the $90-a-barrel mark, while the US West Texas Intermediate (WTI) crude gained more than 3 per cent to $85.39 a barrel.

Tehran said the ceasefire between the two countries had effectively collapsed, heightening concerns over potential disruptions to oil supplies through one of the world’s busiest shipping routes.

Asian markets traded mixed. Japan’s Nikkei and South Korea’s Kospi tumbled more than 4 per cent each, while Hong Kong’s Hang Seng gained around 2 per cent. Indonesia’s Jakarta Composite and China’s Shanghai Composite also rose by up to 1 per cent.

Mumbai, July 19: The Indian equity market is expected to remain driven by domestic earnings and global developments in the coming week after the benchmark indices ended higher, extending their recovery amid concerns over geopolitical risks, elevated oil prices and uncertainty surrounding the global interest rate outlook.

The Nifty gained around 0.53 per cent during the week to close at 24,334.30, while the Sensex advanced nearly 0.75 per cent to settle at 78,151.45.

The resilience in the market came despite persistent foreign fund outflows and heightened tensions in the Middle East.

Investors’ primary focus will be on the June quarter (Q1 FY27) earnings season, which gathers pace in the third week with more than 250 companies scheduled to announce their financial results.

Corporate commentary on demand trends, margins, capital expenditure and future growth outlook is expected to play a key role in shaping market sentiment and stock-specific movements.

Global geopolitical developments are also likely to remain in focus after the United States carried out fresh strikes on Iran.

The US Central Command said the operation followed an earlier Iranian attack in Jordan that killed two American military personnel, while another service member remains missing.

Crude oil prices will be another key monitorable for investors. Oil prices jumped more than 4 per cent on Friday to their highest level in over a month as the intensifying conflict between the US and Iran raised concerns about possible supply disruptions in the Gulf region.

Institutional investment flows will also remain under scrutiny. Foreign institutional investors (FIIs) extended their selling streak for the fifth consecutive session on Friday, recording a provisional net outflow of Rs 376.41 crore. In contrast, domestic institutional investors (DIIs) continued to support the market, remaining net buyers for the eighth straight session with provisional purchases worth Rs 1,017.89 crore.

Exchange data showed that DIIs bought equities worth Rs 17,180.08 crore and sold shares worth Rs 16,162.19 crore during the session.

Meanwhile, FIIs purchased equities worth Rs 14,393.77 crore but sold shares worth Rs 14,770.18 crore, resulting in a provisional net outflow of Rs 376.41 crore.