India’s gold market showed mixed signals in June and early July, with prices gaining 0.7% domestically to INR 95,676 per 10g despite seasonal jewelry demand weakness. Investment demand surged dramatically, with gold ETFs recording their highest monthly inflows since January at INR 20.8 billion. The Reserve Bank of India resumed modest gold purchases after a three-month pause, adding 0.4 tonnes to reach record reserves of 880 tonnes. However, gold imports plummeted 26% year-over-year to $1.8 billion as high prices deterred consumers.

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Gold Price Drop March 2026: Why Gold Fell During an Oil Shock
The Strait of Hormuz is one of the world’s most critical energy chokepoints, carrying a massive share of global oil and LNG trade. Any disruption here can ripple through energy markets, influence inflation, and potentially drive demand for safe-haven assets like gold.






