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Below the Quote on weekly gold and rupee outlook by Rajeev Sharan, Head of Research, Brickwork Ratings

“The rupee held in a narrow band on Friday, opening 3 paise firmer at 94.78 before softening toward 95.15 to the dollar by afternoon, while 24-karat gold slipped another INR 1,900 to INR 1.42 lakh per 10 grams in its third straight decline. What changed today is a rare split in market logic: Brent crude surging toward USD 114 on Middle East tanker strikes is weakening the rupee through India’s oil import bill, yet that same energy shock is reigniting global inflation fears, lifting US bond yields, and dragging gold prices down. That divergence matters because festive buyers are getting an unexpected discount even as geopolitical tensions boil. Looking ahead, the rupee will face friction around 95.30 as oil remains elevated, while gold should find solid support near current levels as Dhanteras demand absorbs this temporary pullback.”

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