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Precious Metals Mixed As US Halts Iran Strike

Bullion Markets Found A Fragile Floor After U.S. President Donald Trump Announced He Would Defer Planned Military Action Against Iran

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Precious metals delivered a mixed performance in Tuesday trading as geopolitical brinkmanship eased slightly in the Middle East and New Delhi moved to curb physical inflows, disrupting traditional demand channels for gold and silver.

In early trading, spot gold was virtually unchanged at $4,565.40 an ounce, hovering near lows not seen since late March. On India’s Multi Commodity Exchange (MCX), gold futures for June delivery ticked up by Rs. 500 to Rs. 159,899 per 10 grams, capitalizing on a softer U.S. dollar. Conversely, silver contracts for July delivery tumbled 1%, shedding Rs. 1,151 to trade at Rs. 275,500 per kilogram, weighed down by New Delhi’s fresh restrictions on silver imports.

The primary catalyst for the morning’s stabilization was a sudden de-escalation of geopolitical tensions. Bullion markets found a fragile floor after U.S. President Donald Trump announced he would defer planned military action against Iran, bowing to diplomatic pressure from Middle Eastern leaders.

The pause on military intervention sent Brent crude slipping back below the $110-per-barrel threshold, offering a reprieve to global equity and bond markets. Because surging energy costs typically drive the inflation that makes gold attractive, the drop in oil prices paradoxically dampened some of bullion’s immediate appeal as a hedge, while concurrently easing worries that central banks would need to keep interest rates higher for longer.

In India, the world’s second-largest consumer of precious metals, regulatory headwinds took center stage. The Ministry of Finance implemented stringent new curbs on silver imports to rein in the country’s current account deficit, sending shockwaves through domestic silver futures.

Simultaneously, the finance ministry moved quickly to quell growing market panic regarding domestic reserves. In an official statement on Tuesday, government officials flatly rejected rumors that New Delhi was planning a mandatory gold monetization program targeting the vast wealth held by India’s wealthy temple trusts. The ministry further dismissed reports that the gold cladding temple towers and doors would be reclassified under India’s “Strategic Gold Reserves,” calling the speculation “completely untrue and without factual foundation.”

While the near-term outlook remains clouded by a dense slate of upcoming macroeconomic data—including U.S. housing statistics, global PMI readings, and the minutes from the latest Federal Reserve FOMC meeting—institutional analysts argue that the long-term bull case for gold isn’t dead yet.

Some Wall Street heavyweights have begun trimming their expectations. JPMorgan recently revised its average 2026 gold forecast downward to $5,243 per ounce, from a previous estimate of $5,708, citing a cooling of retail investor demand.

However, market technicians view the recent slide as a healthy retracement rather than the beginning of a cyclical downturn.

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International News

Mark Raksha Bandhan With The Art Of Gifting By Lotus Arts De Vivre

Indinoor Brings South Indian Heritage To Life With A Contemporary Temple Jewellery Edit Curated By Shanaya Kapoor

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Raksha Bandhan is a celebration of a bond unlike any other. One shaped by cherished traditions and countless moments over the years. This festive season, Lotus Arts de Vivre brings a distinctive approach to gifting with a selection of jewellery, accessories and objets d’art created to be cherished well beyond the occasion.

Bringing together rare natural materials, exceptional artistry and centuries-old techniques from around the world, each creation tells a story of its own. From intricate Japanese lacquer and Cloisonné to luminous mother-of-pearl, abalone and fine marquetry, the edit offers thoughtful gifts for those looking to mark Raksha Bandhan with something truly distinctive.

Marquetry Clutch Bag with Carved Abalone Bird

A statement accessory rooted in an age-old decorative technique, the Marquetry Clutch Bag is created using imported European rye straw, which is soaked, split, sun-dried and ironed before being meticulously arranged into intricate patterns.

At its centre sits a delicately carved abalone bird with a diamond-set eye, complemented by silver and gold-plated detailing. Mother-of-pearl flower motifs with peridot centres and diamond accents along the bamboo-inspired detailing add another layer of intricacy. Taking over three months to create with more than six craftsmen involved at various stages, the clutch makes for a memorable gift that brings together art, nature and fashion.

Japanese Garden Inspired Lacquer Bangle with Diamond and Red Stone

The piece features diamonds and red stones set in 18-karat gold against a deep lacquer surface. Its creation draws upon the centuries-old Japanese Maki-e technique, where gold or silver powder is carefully applied with brushes to build intricate decorative compositions. Requiring approximately six months and the expertise of more than seven designers and craftsmen, the bangle is a wearable piece of art steeped in Japanese tradition.

Created by acclaimed Japanese lacquer artisan Kita Hama from Japan’s Noto region and embellished by Lotus Arts de Vivre, this sculptural bangle draws inspiration from the serenity and beauty of a Japanese garden

Cloisonné Necklace with Turquoise, Pearl, Red Lacquer and Cord

For a sibling drawn to jewellery with colour and character, the Cloisonné Necklace brings together turquoise beads, pearls, red lacquer and black beads around an intricately enamelled central pendant.

The necklace celebrates Cloisonné, a centuries-old decorative technique in which fine metal wires are shaped into delicate compartments and filled with layers of coloured enamel. The addition of red lacquer brings another historic Asian art form into the design, resulting in a striking interplay of colour, texture and traditional techniques with a contemporary sensibility.

Mother-of-Pearl Canapé Plate with Silver Birds

For those who appreciate beautiful objects for the home, the Mother-of-Pearl Canapé Plate transforms the natural iridescence of mother-of-pearl into an elegant serving and decorative piece.

Sourced from Southeast Asia, the mother-of-pearl is accented with intricately detailed sterling silver birds. Equally suited to serving hors d’oeuvres and desserts or displayed as an object on a coffee table or desk, the piece brings a touch of nature into the home. Taking approximately two months to complete, it passes through the hands of more than six craftsmen and designers from design to production.

Abalone Shell Bowl with Birds

Celebrating the beauty of materials in their natural form, the Abalone Shell Bowl uses a Mexican abalone shell distinguished by its luminous, iridescent colours and organic markings. Sterling silver birds perched along the shell introduce a whimsical signature detail.

Designed to work as both a serving piece and a decorative object, the bowl can hold flowers, desserts or small bites, or simply be displayed on its own. Each shell carries its own natural variations, making every piece inherently individual. The creation takes approximately one and a half months to complete, with several designers and craftsmen involved across its various stages.

This Raksha Bandhan, Lotus Arts de Vivre offers gifts that feel considered rather than conventional pieces shaped by rare materials, artistic traditions and meticulous handwork, chosen to celebrate a bond that is equally one of a kind.

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