Gold prices are expected to remain volatile next week as investors track geopolitical developments in the Middle East and key macroeconomic data releases that could shape the sentiment in the domestic market, analysts said.
Analysts predict a surge in gold and silver prices as investors seek safe-haven assets due to escalating tensions in the Middle East. The impact on domestic prices will depend on the conflict's duration, with geopolitical factors and macroeconomic data also playing a role.
'Refiners may soon be forced to adjust operations, curtailing runs as product exports stall and directing output solely to domestic markets.'
'In such a scenario, Iran could proclaim itself victor, rebuild, re-enforce its diminished regional proxies to further destabilise neighbouring nations and take control of the Persian Gulf and Strait of Hormuz.'
Russia has expressed strong concern over a US-Israeli strike on the Iranian port of Bandar Anzali, a key transit hub on the INSTC, warning of the risk of drawing Caspian states into the ongoing conflict.
The Indian rupee weakened against the US dollar due to rising crude oil prices, geopolitical tensions in the Middle East, and foreign fund outflows.
The Islamic Revolutionary Guard Corps (IRGC) has announced a series of military operations against US and Israeli targets in retaliation for earlier airstrikes. The IRGC claims to have launched multiple missile and drone strikes, and has warned against any potential ground operations within Iranian territory.
Iran has placed anti-personnel and anti-armour mines around the island, where US troops could potentially stage an amphibious landing.
When asked about Bessent's announcement allowing certain Russian oil sales to India and whether the US is considering any other moves, including tapping the Strategic Petroleum Reserve (SPR), Trump said, "If there were some, I would do it just to take a little of the pressure off."
Former US President Donald Trump claimed victory over Iran, stating they agreed to never have a nuclear weapon and provided a 'significant prize' related to the Strait of Hormuz. He also suggested a change in Iranian leadership and acknowledged Pakistan's role in facilitating talks.
Hundreds of Indian seafarers are stranded on vessels carrying crude oil, LPG, and LNG in the Persian Gulf due to the ongoing conflict in the Middle East, causing disruptions to India's energy supplies.
Iranian representatives have conveyed to the Trump administration that they are unwilling to resume talks with Steve Witkoff and Jared Kushner, preferring instead to engage with Vice President J D Vance.
Nayara Energy, a private fuel retailer in India, has increased petrol and diesel prices following a surge in global oil prices due to Middle East tensions. This move contrasts with state-owned retailers who continue to freeze prices.
'Jews are very much safe in Iran. They are our brothers. There is a difference between a Jew and a Zionist.' A conversation around a tea table in Mumbai serves as an eye-opener for Syed Firdaus Ashraf.
On Monday, March 9, Mojtaba Khamenei was appointed Iran's new supreme leader, succeeding his father Ayatollah Ali Khamenei.
Modi said today "we all have reached an important and historic partnership".
'In India, there is this first generation migrant, say from a small village in UP. He didn't go to the Gulf to buy a big house but make the life of his family better.' 'He may have paid 1 lakh rupees to an agent to go to the Gulf. Imagine what will happen to him and his family if he has to come back. He and his family will become poor again.' 'He went to the Gulf to come out of poverty, but this war will make his family trapped in poverty once again.'
Analysts predict that developments in West Asia and their impact on crude oil prices will heavily influence investor sentiment in the upcoming week. Global market trends, foreign investor activity, and rupee-dollar movement will also play a role.
Pakistan's Foreign Minister Ishaq Dar has called for dialogue to address the ongoing conflict in West Asia, emphasising the importance of diplomatic engagement and sustained efforts to promote peace and stability in the region.
A Thai cargo vessel was struck by missiles near the Strait of Hormuz, leaving three crew members missing and prompting a rescue operation by the Royal Navy of Oman.
Mohanlal's highly anticipated film Drishyam 3 has been postponed from its initial April 2 release to May 21, coinciding with the actor's birthday, due to ongoing war tensions in the Gulf region and the upcoming Kerala elections.
Amidst escalating tensions in West Asia, Iran claims to have inflicted heavy casualties on US forces in Dubai, a claim vehemently denied by the US Central Command, raising concerns about regional stability.
Indian investors have seen their wealth erode by a staggering Rs 48.29 lakh crore since the West Asia war began on February 28, leading to a significant downturn in the BSE Sensex and NSE Nifty, driven by geopolitical tensions and rising crude oil prices.
A man in Budgam district, Jammu and Kashmir, has been booked by police for allegedly circulating provocative videos on social media platforms, potentially inciting public unrest and disturbing communal harmony.
The Pakistan Cricket Board (PCB) has dismissed concerns regarding the travel plans of overseas players for the Pakistan Super League (PSL) despite ongoing regional tensions. The 11th edition of the PSL is set to begin on March 26 and will feature an increased number of foreign players, particularly from Australia.
While Trump has been examining the possibility of stationing ground forces in the Middle East, CBS News reported that he has yet to define the exact conditions under which he would approve their use.
The Cyprus Chess Federation president has criticised Indian Grandmaster Koneru Humpy's withdrawal from the Candidates Tournament, citing unfounded security concerns and disrespect for organisers and players.
West Indies spinner Gudakesh Motie is being linked with a possible move to Lucknow Super Giants as a replacement for injured Wanindu Hasaranga ahead of the Indian Premier League 2026 season.
'The White House lunch that Trump hosted for Munir last year came just after Munir returned from a visit to Iran, at a moment when Israel and Iran were at war.' 'Trump said after that lunch that the Pakistanis know Iran very well. He likely views Munir as a useful interlocutor that can give helpful insights on Iran.'
Gold prices experienced a significant drop in futures trading due to global selloff, inflation concerns, and a strong US dollar. Analysts predict a continued downward trend amid geopolitical tensions and potential rate hikes.
The vessel sank on March 4, 2026, approximately 20 nautical miles west of Galle, after reportedly being struck by a torpedo from a United States submarine.
The members of the Zimbabwe cricket team, who were stranded in India after the T20 World Cup due to international airspace closures amid ongoing conflict in the Middle East, headed home on Wednesday after the International Cricket Council (ICC) made alternative travel arrangements for their safe journey.
'What we have yet to see on either the US or the Iranian side is willingness to compromise on their ultimate demands and the flexibility to reach an agreement to end the war.
Amidst ongoing conflict, Iranian President Masoud Pezeshkian signals a potential de-escalation by apologising to neighbouring countries while firmly rejecting US President Donald Trump's demand for unconditional surrender.
Two more Indian-flagged LPG tankers have begun their journey from the Persian Gulf, navigating the Strait of Hormuz amidst regional conflict, following disruptions caused by recent tensions in the Middle East.
The Indian government has reduced excise duty on petrol and diesel to mitigate the impact of rising global crude prices, triggered by geopolitical tensions in the Middle East. This move aims to provide relief to consumers and oil companies amidst volatile international oil markets.
Equipped with advanced weaponry, the HMS Anson is fitted with "Tomahawk Block IV land-attack missiles" with a range of 1,600 km and "Spearfish heavyweight torpedoes," providing formidable offensive capabilities.
Amidst the ongoing US-Israel-Iran conflict, the Maharashtra government is arranging evacuation flights to bring home 164 citizens stranded in the UAE due to airspace closures, offering a crucial lifeline and support.
China has denied reports of finalising a deal with Iran to sell CM-302 supersonic anti-ship missiles, amidst rising tensions in the Middle East and joint US-Israeli airstrikes.
The Bahrain Grand Prix and Saudi Arabian Grand Prix in the Formula One 2026 calendar are likely to be cancelled due to escalating Middle East tensions, with a final decision expected soon.
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