Gold prices dipped as escalating U.S.-Iran tensions fueled oil prices, while anticipated U.S. Federal Reserve interest rate hikes added further pressure. Despite a brief missile exchange, both nations reportedly agreed to de-escalate and resume talks. Meanwhile, Indian gold demand saw a premium emerge, contrasting with subdued activity in China. Other precious metals experienced mixed movements.

Gold rate today down as oil prices rose following days of tit-for-tat strikes by the United States and Iran in the Middle East raising apprehnsions over Strait of Hormuz.

Gold prices dipped as escalating U.S.-Iran tensions fueled oil prices, while anticipated U.S. Federal Reserve interest rate hikes added further pressure. Despite a brief missile…