Gold prices have crashed sharply amid the ongoing war in West Asia.

Previously, prices of the yellow metal had surged in 2025 and early 2026 to multiple record highs when the US’ tariff threats had plundered markets around the world and had weighed on the US dollar.

Despite a nearly 2% rally over the last couple of days, gold prices on both the domestic and global markets are down around 27% from their January peak, despite the war in West Asia battering global markets.

Gold futures have fallen 13% to Rs 1.41 lakh per 10 grams on the Multi-Commodity Exchange since the war in West Asia started late last month.

So why is there no safe-haven demand for bullion currently, as seen earlier when geopolitical uncertainty was elevated?

The key aspect holding back safe-haven demand for gold this time is the sky-high prices of crude oil.

High crude prices lead to fears of inflation levels rising around the world, which delays rate cuts by central banks around the world. Some central banks may even consider raising interest rates to combat inflation if the situation worsens as the West Asia conflict prolongs itself.

“This time, the only negative for gold, despite everything else remaining positive, is the high crude oil prices and therefore inflation, and the strength of the dollar,” said Naveen Mathur, director of commodities and currencies at Anand Rathi Shares and Stock Broking.

“Pre-war, the talk of the town was that the Fed (Federal Reserve) and other major central bankers would promote growth because inflation, to a large extent, had been anchored globally. Now, despite the global economy being in doldrums, they may not be willing to cut rates.” While high inflation levels make gold an attractive option for hedging, higher interest rates shift investor sentiment towards yield-bearing assets such as bonds and treasuries instead of non-yielding assets such as gold.

Traders now see no probability of a rate cut in the US Federal Reserve’s April meeting, according to the CME Fedwatch tool. In fact, 6% of traders now expect the Fed to raise rates by 25 basis points, the tool showed. For India, while inflation levels remain comfortably within the Reserve Bank of India’s (RBI) tolerance band of 2%-6% for now, the central bankers may turn hawkish in their policy stance if high crude prices for a prolonged period lead to elevated inflation. While the RBI may not raise interest rates, it will at least delay the rate cut cycle, which may weigh on the stock markets and make bonds attractive.

The US dollar has also emerged as a safe-haven asset this time around. The dollar index, which measures the strength of the dollar against many other global currencies, has strengthened by over 2% to around 100 since the West Asian war began, compared to the 96 levels it had dipped to when the US tariff threats were at a peak.

These factors have provided an opportunity for investors to book some profits in gold after its rally to the peak, leading to a fall in gold prices, and instead invest in the US dollar.

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The engagement has now given their lawyers a riveting task, reports Hello! Magazine.

“Following his divorce with Scott, which cost him $38 billion due to the lack of a prenuptial agreement, Bezos is likely to opt for extensive legal measures to protect his $138 billion fortune,” the report noted.

Bezos, 59, and Sanchez, 53 reveled in their engagement at La Petite Maison in Cannes, France, last week accompanied by Bezos’s sister, Christina Bezos Poore, and her husband, Steve Poore.

They savored zucchini blossoms adorned with parmesan cheese, complemented by a distinct off-menu $4,285 bottle of Dugat-Py Grand Cru from Domaine Bernard.

Bezos holds a broad real estate portfolio valued at over $500 million, with properties in Beverly Hills, Manhattan, and Washington DC.

Sanchez owns Black Ops Aviation, an aerial video company with high-profile clientele, and a grand $6.2 million home in Washington, according to the report.

Despite a $57 billion dip in his net worth, Bezos remains among the top three wealthiest people on earth globally, following Bernard Arnault, the CEO of LVMH, and Tesla CEO Elon Musk.

Earlier this month, Bezos was spotted shirtless, sunbathing with Sanchez on his $500 million luxurious yacht in Spain.

The couple was also spotted at the F1 Miami Grand Prix and at global music festival Coachella in April.

Sanchez can soon be known as the first person to lead an all-woman space mission on Bezos-owned Blue Origin.

Source: IANS

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The local unit fell Pak Rs 8.78, or 3.02 per cent, against the dollar on Thursday and was trading at 299 in the interbank market, Geo News reported. The dollar bonds due 2031 fell to the lowest since November on Thursday and were indicated at 33.10 cents on the dollar. The new rate is just Re 1 away from the much-anticipated rate of Rs 300 per dollar, Geo News reported.

The rupee depreciation has piled up foreign debt without taking new external loans, making imports further expensive for Pakistan, which faced a six-decade high inflation reading at 36.4 per cent in April 2023. Financial pundits believe that the rupee has been depreciating due to political and social unrest caused after the arrest of PTI Chairman Imran Khan, Geo News reported.

Moreover, the dollar demand-supply gap has also widened as the exporters have stopped selling US currency on speculations that rupee would depreciated further versus the greenback. On the other hand, importers are seen rushing to buy dollars. This gap in the demand and supply of the foreign currency in the interbank market has contributed to the rupee`s devaluation.

Khaqan Najeeb, former finance ministry advisor, said that continuing political instability has taken a toll on market sentiments, pushing the Pakistani rupee to hit a record low.

“The heightened political turmoil has come at a time when the economy has been in the doldrums for months, largely due to an acute balance of payment crisis, with falling State Bank of Pakistan reserves barely covering a month of highly controlled imports,” he said.

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