12-Mar-2026      14:37

Gold supported by inflation fears as oil extends rally

Gold hovered near $5185 per ounce on Thursday, trading with mild gains as rising oil prices fueled fresh inflation concerns. February CPI data came largely in line with expectations, showing inflation remaining stable but still above target, while the full impact of rising energy costs from the ongoing conflict has yet to be reflected. Markets expect the Federal Reserve to keep rates unchanged next week, with traders pricing in only one possible 25-bps cut later this year. Despite a stronger dollar above 99, gold remained supported by persistent geopolitical tensions and inflation risks, while MCX April bullion futures edged slightly higher near ₹161,936.

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