Gold Stuck in Range Amid Hormuz Worries Despite Positive Data; Indian Silver Premiums Hit 10%

Gold prices have stayed within a narrow band between $3,950 and $4,200 per ounce since the June FOMC meeting, as markets focus on potential disruptions in the Strait of Hormuz rather than softer economic indicators. Recent PCE, CPI, and PPI readings came in below forecasts, easing near-term rate hike expectations, yet gold has not advanced. Oil prices have climbed about $10 per barrel amid renewed US-Iran tensions, though precious metals have declined less sharply than in March.