Gold prices remained broadly unchanged in India on Thursday, according to data compiled by FXStreet.
Gold (XAU/USD) advances on Wednesday, yet trades off a three-week high of $4,857 hit earlier in the day, as falling Oil prices weighed on the US Dollar, which weakened to a four-week low in the US Dollar Index (DXY). At the time of writing, the XAU/USD pair trades at $4,735, up more than 0.70%.
TD Securities commodity strategists see Gold and Silver facing further correction as the Middle East war sustains inflation expectations and delays Fed easing. Elevated opportunity costs and reduced regional capital are near-term headwinds.