On July 6, 2026, Comex gold rose nearly 2% to $4,205.50 per ounce and silver gained 3.11% to $62.965 per ounce after weak US jobs data. In India, MCX gold and silver futures also moved higher but saw intraday volatility. Across major cities, 24K gold was quoted around ₹14,672–₹14,945 per gram, while silver was priced at ₹2,49,900–₹2,59,900 per kg. The move highlights how shifts in interest-rate expectations can be rapidly priced into precious metals.

June 29, renewed geopolitical tensions rose after fresh vessel attacks near the Strait of Hormuz amid U.S.-Iran exchanges. COMEX gold fell 0.41% to $4,078 per ounce and silver slid more than 1% to $58.52, while India’s MCX gold futures dropped 0.48% to Rs 1,43,470 per 10 grams and silver eased 0.13%. Analysts said a stronger U.S. dollar and higher U.S. Treasury yields weighed on bullion, while the geopolitical flare-up lifted Brent crude about 1% to $72.78 a barrel.

South Korea’s average retail gasoline price fell below 2,000 won per litre on June 27 for the first time in nearly two months, reaching 1,991.1 won, while diesel dropped to 1,982.3 won per litre. The decline follows a government move to cut the fuel price ceiling, including a 150 won reduction in the cap for regular gasoline to 1,784 won per litre, after Dubai Crude slid 34.3% over the past month from US$98 per barrel on May 26 to $64.4 Thursday. Analysts expect pump prices to ease gradually over the next two to three weeks, though a weaker won and a rebound in refined product prices could limit further declines.

India’s Enforcement Directorate (ED) conducted raids at nine locations linked to gold jewellery maker Rajesh Exports in Bengaluru and elsewhere under the Foreign Exchange Management Act (FEMA). The Bombay Stock Exchange sent the company a letter the same day seeking clarification on the reported searches. Rajesh Exports is also facing an urgent forensic audit ordered by SEBI amid allegations of financial misstatements. The company’s founder has denied wrongdoing and said it will cooperate with the investigation.

On June 23, South Korea’s benchmark KOSPI index plunged 10% and triggered a circuit breaker after reports that Samsung Electronics and SK hynix may slow the expansion of AI memory chip capacity. The shock rippled through global tech shares, with Nasdaq 100 futures down more than 2% and S&P 500 futures off over 1%, while Dow Jones futures slipped about 0.4%. The MSCI Asia Pacific Information Technology Index fell nearly 5% and India’s Nifty IT index dropped as much as 2.34%. Softer oil prices and easing Middle East tensions failed to offset renewed worries about high tech valuations tied to AI spending.

On June 22, MCX gold futures for August rose 0.42% to Rs 1,47,818 per 10 grams, while July silver futures gained 0.92% to Rs 2,35,324 per kg. Overseas, COMEX gold slipped about 1% to $4,198.80 an ounce and COMEX silver fell nearly 1% to $65.63 an ounce. Brent crude dropped more than 2% to around $79 a barrel and WTI declined 3% to about $75. Analysts said progress in US-Iran peace talks helped gold, but a stronger dollar limited gains, while silver stayed under pressure with the gold-silver ratio at 63.6:1.

The first round of US-Iran talks in Switzerland has concluded, fuelling expectations that Iranian oil exports could receive waivers or that sanctions may be loosened. Hopes that tankers previously stranded in the Persian Gulf could be released added to the move. Brent fell more than 2% to around $79 a barrel, while WTI dropped 3% to around $75 a barrel. The shift weighed on short-term oil price expectations by altering near-term supply-and-demand assumptions.

Indian equities opened higher, with the Sensex up 0.54% and the Nifty adding 0.51%, as most sectors advanced led by IT, oil services and consumer-related stocks. Crude prices fell sharply, with Brent down 2% to $78.74 a barrel and WTI down 3% to $74.98. Market sentiment improved on expectations of easing geopolitical risks in West Asia, alongside a firmer rupee and slowing foreign outflows.

ONGC expects its natural gas production to grow 7% to 8% year on year, with new wells scheduled to start production in the next financial year, Chairman Arun Kumar Singh said. Gas from new wells already makes up about a quarter of total output and could increase to 30–36% in the near term. The company is executing offshore projects with investment of around Rs 33,000 crore to sustain and lift production, while benefiting from policy support such as reduced royalties and market-linked pricing reforms. The outlook points to stronger gas supply growth expectations in India and the region, offering fundamental support for natural gas commodity prices.