Topic
Commodities Metals
Seattle's Viral Raccoon Jimothy Raises Concerns Over Urban Wildlife and Internet Fame
After capturing video of a raccoon with a hunched spine in Seattle, Kiana Hall's Instagram footage of 'Jimothy' went viral, sparking memes, merchandise, and a Mariners event. Wildlife biologists caution that his fame may stress the animal and reduce his lifespan.
Global Gold Demand Flat at 1,269 Tonnes in April-June Quarter: WGC Report
Global gold demand was virtually flat at 1,269 tonnes in the April-June quarter of 2026, according to the World Gold Council. Investment demand eased due to lower prices, but central bank purchases jumped 62%. Jewellery demand fell 17% in volume terms.
Commodities Gold Prices Rise Across Major Indian Cities on July 30; Chennai, Hyderabad See Steeper Gains
Gold prices in India increased across all major cities on July 30, 2026, with 22-carat gold rising by ₹15 per gram in most cities but by ₹75 per gram in Chennai and Hyderabad. The data, courtesy of bankbazaar.com, shows Mumbai, Delhi, Ahmedabad, Bengaluru, and Kolkata recording smaller gains, while Chennai and Hyderabad saw larger upticks.
Commodities Nickel Ore Trade Surges 22% Amid Safety Concerns for Bulk Carriers
Global seaborne nickel ore trade expanded by more than 22% year-on-year to 26.1m tonnes in Q2 2026, according to Signal Ocean data. China imported nearly 20m tonnes in H1 2026, while Indonesia's transformation from exporter to importer is reshaping Pacific bulk shipping. Safety concerns persist as high-moisture ore cargoes pose liquefaction risks to supramax and ultramax vessels.
Gold Price Prediction Today: Fed Policy, ETF Inflows, and Technical Levels Drive July 29, 2026 Outlook
Gold prices are trading cautiously at $4,030/oz ahead of the US Federal Reserve's policy decision on July 29, 2026. A modest 0.9% weekly gain was driven by a crude oil pullback and easing Treasury yields, while the World Gold Council reported 18.1 tonnes of net ETF inflows. Key support and resistance levels are identified for both gold and silver.
Gold and Silver Slip as Fed Decision, Stronger Dollar Weigh on Bullion Prices
Gold and silver prices declined as a stronger US dollar and cautious investor sentiment ahead of the Federal Reserve's interest rate decision dampened demand. Spot gold slipped 0.1% to $4,021.87 per ounce, while silver dropped about 2% to $57.24 per ounce internationally. In the domestic market, silver fell Rs 5,200 to Rs 2,24,800 per kg.
Gold Prices Rise but Upside Capped as FOMC Decision Looms, July 28 Outlook
Spot gold traded 0.20% higher at $4065 on July 27, but fell from an intra-day high of $4116 as oil prices rebounded on geopolitical tensions. Weekly gain of 0.90% was supported by weak US durable goods data and rising Fed rate hike probabilities. Upside is capped by the upcoming FOMC decision.
Commodities Gold Prices Rise Across Major Indian Cities on July 27, 2026
Gold prices in India rose across all major cities on July 27, 2026. The price for 1 gram of 22-carat gold increased by ₹70–₹85 depending on the city, while 24-carat gold rose by ₹74–₹90 per gram. Mumbai, Delhi, Ahmedabad, Bengaluru, Kolkata, Chennai, and Hyderabad all saw higher rates.
Gold Price Prediction Today: Gold Rises but Upside May Be Limited Ahead of Fed Policy Decision
Gold prices started the week on a positive note as geopolitical tensions eased and the US dollar weakened, but gains are likely capped before the Federal Reserve's policy decision, according to Manav Modi of Motilal Oswal. Technical analysis shows gold trading between key Fibonacci levels, with immediate support at Rs 143,500 and resistance at Rs 147,700.
Gold Prices Jump Over 1% as Easing Middle East Tensions Drag Oil Lower, Fed Decision in Focus
Gold prices jumped over 1% in early trade as hopes of de-escalation between the US and Iran pushed crude oil prices lower, reducing inflation concerns. Spot gold climbed 1.4% to $4,110.56 an ounce, while silver surged nearly 5%. The Federal Reserve's upcoming monetary policy decision is now the key driver for precious metals.
Gold and Silver Await Fed Decision Amid Geopolitical Tensions and Crude Oil Volatility
Gold and silver ended last week on a stronger note, with Comex gold rising 1.3% and silver nearly 5%. This week, the Federal Reserve's interest rate decision, US-Iran tensions, and crude oil price movements will drive bullion. Analysts note range-bound trading amid geopolitical uncertainty and continued official-sector buying.
Commodities India's Next Commodity Cycle May Be Driven by Scrap as Organised Metal Recycling Gains Momentum
India's metals industry is undergoing a structural shift from mining towards recycling, driven by organised non-ferrous metal recyclers. A report by Ashika Institutional Equities Research highlights that secondary metals offer significant energy, capital, and carbon savings, while regulatory frameworks like Battery Waste Management Rules and Extended Producer Responsibility are accelerating formalisation. Lead offers strong earnings visibility, copper represents the largest long-term opportunity, and aluminium is a major decarbonisation play.
How Scrap Is at the Centre of India’s Changing Metals Growth Story
India's next metals growth cycle will be driven by recycling rather than mining, with scrap emerging as the industry's most strategic resource, according to a thematic report by Ashika Institutional Equities. The report highlights regulatory support, growing demand from electrification, and the shift from informal to organised recycling as key drivers.
Commodities Global Steel Output Rises 1.7% in June 2026 Driven by Strong Regional Gains
Global crude steel production increased 1.7% year-on-year to 155.7 million tonnes in June 2026, driven by gains in Asia, the EU, and North America, according to the World Steel Association. First-half output fell 0.7% to 931.5 mt. India led the top five producers with 7.1% growth in H1, while Vietnam surged 27.5% in June.
Commodities Gold Prices in India Fall Across All Major Cities on July 24, 2026
Gold prices in India declined across all major cities on July 24, 2026, with 22-carat gold dropping by ₹270 per gram and 24-carat by ₹283-₹284 per gram. Prices for 8 grams also fell proportionally, according to data from bankbazaar.com as reported by The Hindu BusinessLine. The uniform decrease reflects a broad market trend, though no specific driver was cited.
Gold falls over 2%, silver drops nearly 4% as rising oil prices fuel inflation and rate concerns
Gold prices declined over 2% and silver fell nearly 4% as rising crude oil prices revived inflation worries, prompting expectations that central banks may maintain restrictive monetary policies. According to The Times of India, higher oil costs have reduced the appeal of non-yielding assets like precious metals amid heightened rate hike fears.
Commodities Copper Market Faces Volatility on West Asia Developments, US-Iran Tensions
Copper prices are expected to remain volatile in the coming months due to the US-Iran conflict and ongoing tariff uncertainty, according to analysts. The metal hit a 6-week high on supply tightness, with LME three-month contracts around $13,800/tonne. BMI raised its forecast to $12,700/tonne, citing supply-side pressures and AI-fuelled optimism.
India and Myanmar Signal Closer Rare Earth Mining Ties Amid China Dominance
India and Myanmar are strengthening cooperation in rare earth mining, with Indian delegations visiting and the Indian ambassador highlighting win-win opportunities. Nearly half the world's heavy rare earth supply originates from Myanmar's Kachin state, currently shipped to China for processing. Indian firms including IREL, NTPC Mining, and Himadri Specialty are involved.
Commodities India Establishes ₹40,000 Crore Corpus for Scientific Coal Mine Closure and Rehabilitation
Coal Minister G Kishan Reddy announced a ₹40,000 crore corpus for scientific mine closures, with 42 mines closed in the last year and a target of 147 more in 2-3 years. The fund includes a community development allocation, supported by frameworks like RECLAIM and SUVIKALP, and an Indo-German cooperation project.
Gold surges Rs 800 in Delhi; silver steady as Fed, geopolitics, China demand steer precious metals
Gold prices in the Indian capital gained Rs 800 per 10 grams to Rs 1,47,700 on Tuesday, driven by strong physical buying and favourable global cues. Silver remained flat at Rs 2,21,500 per kg. Analysts attribute silver's recent outperformance to improving industrial demand expectations amid US-Iran diplomatic engagement and China's tech sector support, while gold continues to benefit from central bank purchases and Chinese physical demand. The US Federal Reserve is expected to keep interest rates unchanged for the rest of 2026, according to a Reuters poll.
Commodities Nickel's Fortunes Hinge on Indonesia's Mining Quota Policy as Prices Rebound
Nickel prices have rebounded from six-month lows to $16,950/tonne, but the direction for H2 2026 hinges on Indonesia's mining quota policy. Indonesia is considering raising its RKAB quota to 360 million tonnes, which could shift global supply dynamics. Forecasts from BMI, AOCE, and ING Think indicate potential price moderation, with market surplus or deficit depending on policy decisions.
Gold Price Prediction Today: Why Are Gold Prices Under Pressure? Outlook for July 20, 2026
Gold prices remain under pressure, trading around $4,000 as escalating US-Iran tensions and rising crude oil prices stoke inflation concerns, reinforcing expectations of higher-for-longer interest rates. Federal Reserve officials emphasize the need for sustained price moderation before policy easing, while the US dollar and Treasury yields stay firm. Technically, gold is below its 20-day moving average, with key support at Rs 139,200–140,000 and resistance at Rs 143,500.
Gold Slips as Middle East Tensions Push Crude Higher; Silver Also Declines
International gold prices slipped as rising Middle East tensions pushed Brent crude above $90/barrel, reviving inflation concerns. Spot gold fell 0.4% to $4,000.55/oz, while Comex gold futures for August delivery dropped 0.3% to $4,005.9. Silver also declined sharply. Physical demand weakened in Asia, with Indian discounts widening to near one-month highs.
Gold, silver under pressure this week as US-Iran conflict, oil rally cloud outlook
Gold and silver are under pressure this week as escalating US-Iran conflict, surging crude oil prices, and a stronger dollar weigh on precious metals. MCX gold futures fell nearly 2% to Rs 1.40 lakh per 10 grams, while silver dropped 2.8% to Rs 2.16 lakh per kg. Investors await key economic data from the US, Europe, and China for further direction.
Gold Price Prediction: Buy on Dips Strategy for MCX Gold August Futures on July 17, 2026
MCX Gold August futures have rebounded sharply, prompting a buy-on-dips strategy from analyst Jateen Trivedi. The technical setup shows improving momentum with a bullish MACD crossover and recovering RSI. Key support is at Rs 1,40,000, with a target of Rs 1,42,000.
Gold and Silver Slide as Rising Yields and Oil Price Surge Weigh on Precious Metals
Gold and silver prices fell sharply, with spot gold dropping 2% to around $3,984/oz and silver 3.6% to $55.68/oz, as rising US Treasury yields and higher crude oil prices dampened investor appetite. MCX silver shows technical recovery potential toward Rs 227,000 with support at Rs 218,000. Geopolitical tensions in the Middle East threaten oil routes, fueling inflation concerns and weighing on precious metals.
UK Government Brings British Steel Under Public Ownership, Secures Steelmaking Future
The UK government has nationalised British Steel, taking control of the Scunthorpe steelworks to secure domestic steelmaking. The move follows years of uncertainty and financial losses, with the plant losing £700,000 per day under Chinese owner Jingye Group. The government's intervention ensures continued production of virgin steel for critical infrastructure.
Commodities British Steel Nationalisation Bill Passed by Parliament, Securing Public Ownership of Scunthorpe Operations
Parliament has passed the Steel Industry (Nationalisation) Bill, paving the way for nationalisation of Scunthorpe-based British Steel. The King signed the bill into law on Wednesday. Energy minister Chris McDonald said the government acted decisively in the national interest. Shadow business secretary Andrew Griffith criticised the move, linking it to high energy costs. Owner Jingye has begun seeking compensation.
Gold price prediction: Gold and silver outlook for July 15, 2026 amid geopolitical tensions and Fed stance
Gold extended losses for a second consecutive week, declining 1.3%, as geopolitical tensions and rising US real yields weighed on sentiment. Silver trades at $58.50/oz, down 52% from its all-time high, but long-term outlook remains constructive on supply deficit. Focus shifts to US PPI and Fed speeches.
Gold Surges Over 2% to $4,063 as Weak US Inflation Data Revives Fed Rate Cut Bets
Gold prices rallied more than 2% to $4,063.80 per ounce on Tuesday after US consumer inflation slowed more than expected in June, softening expectations for a Federal Reserve rate hike. However, renewed Middle East tensions and rising oil prices capped further gains. Citi Research maintained platinum and palladium price targets at $1,950 and $1,500 per ounce respectively.
De Beers halts diamond production at flagship South African mine for two years amid market slump
De Beers is suspending production at its flagship Venetia diamond mine in South Africa for two years, citing depressed market conditions and changing consumer habits. The mine accounts for over 40% of the country's diamond output and employs more than 4,000 workers. The International Diamond Consultants' rough diamond price index has almost halved since 2022, driven by falling demand in China and competition from lab-grown diamonds.
Gold Price Prediction Today: Will Gold Prices Continue to Fall Amid US-Iran Conflict?
Gold prices fell sharply on July 13, 2026, as renewed US-Iran hostilities over the Strait of Hormuz boosted safe-haven demand for the dollar and yields. Spot gold dropped 2.6% to $4013, with a weekly loss of 1.3%. Meanwhile, central banks continued buying, with China adding 15 tons in June. Fed officials signaled possible rate hikes, pressuring gold further.
Gold price prediction today: Any end to gold fall in sight? Check outlook for July 13, 2026 week
Gold prices trade with a bearish bias as escalating Middle East geopolitical tensions fuel inflation concerns and expectations of further Fed tightening. Technical indicators show gold below key moving averages, with crucial support at Rs 141,300. This week's US CPI, PPI, and Fed Chair Warsh's testimony could determine near-term direction.
Gold and Silver Prices Drop Over 1% as Middle East Tensions Drive Oil Higher
Spot gold fell 1.2% to $4,072.78 an ounce and US gold futures slipped 0.8% to $4,081.70 amid escalating US-Iran tensions over the Strait of Hormuz, which drove oil prices sharply higher and revived inflation concerns. Analysts expect bullion to remain in a corrective phase unless stronger fundamental triggers emerge, with market attention on geopolitical developments and upcoming Chinese economic data.
Gold Silver Price Outlook: Middle East Conflict and Inflation Data to Drive Prices This Week
Precious metals are expected to remain under pressure this week as investors weigh the US-Iran conflict and upcoming inflation data from the US, India, and the euro area. MCX gold futures declined 2.65% to Rs 1.43 lakh per 10 grams, while silver tumbled 6.2%. Analysts note that a stronger US dollar and higher crude oil prices are weighing on sentiment.
Gold Price Prediction: MCX Gold August Futures Show Bullish Bias, Buy on Dips Strategy Advised for July 10, 2026
MCX Gold August futures are trading near Rs 1,45,350 with a positive bias. According to Jateen Trivedi, VP Research Analyst at LKP Securities, the technical structure supports a buy on dips strategy. Key support is at Rs 1,44,000, with targets at Rs 1,46,200 and Rs 1,46,700. The bullish outlook is backed by moving averages, RSI, and MACD indicators.
Gold, Silver Rate Today: Yellow Metal Steadies but Remains on Track for Weekly Loss as Silver Tumbles
Gold prices in India slipped for the fourth consecutive session on Thursday, with 10 grams falling Rs 350 to Rs 1,48,100, amid a stronger rupee and subdued local demand. International spot gold steadied near $4,122 per ounce but remained on track for a weekly loss of over 1%. Meanwhile, silver prices tumbled Rs 7,800 to Rs 2,32,000 per kg in the domestic market. Market attention remains on US economic data and Federal Reserve policy signals.
Commodities Gold futures rebound nearly 1% to ₹1.44 lakh/10g on value buying despite West Asia tensions
Gold futures on the Multi Commodity Exchange rebounded nearly 1% to ₹1.44 lakh per 10 grams on Thursday, driven by value buying after a three-session decline. Weaker US dollar also supported prices, but gains were capped by renewed US-Iran tensions fuelling inflation concerns and expectations of higher US interest rates.
Commodities Gold traders seek tax safeguards to boost trust in new Gold Monetization Scheme
The Gold and Silver Merchants Association has urged the Indian government to address tax-related concerns under the proposed Gold Monetization Scheme (GMS) 2.0, citing fears of Income Tax scrutiny over inherited gold lacking purchase documents. The association calls for clear legal protection, simple KYC procedures, and direct involvement of jewellers to build public trust and reduce gold imports.
Commodities Gold and Silver Prices Decline in Indian Bullion Market: 24 Carat Gold Down 1.7%
According to News on AIR, gold and silver prices declined in the Indian bullion market on June 24, 2026. 24 carat gold was trading 1.7 per cent lower at 144,330 rupees per 10 grams, while silver was 1.2 per cent down at 223,470 rupees per kilogram. The data reflects intraday movements in the domestic bullion market.
Cement demand and prices under pressure amid monsoon onset and rising costs
The onset of the south-west monsoon, labour shortages, and rising fuel costs have pushed India's cement prices down ₹3-5 per bag to an average of ₹356, while the industry faces cost inflation of ₹350-400 per tonne. Analysts expect demand to remain subdued for the next two months, with recovery only after the monsoon season.
Gold Price Crash Triggers Indian Households to Sell Old Jewellery in Record Numbers
Indian households are rushing to sell old gold jewellery as prices crash from record highs. The India Bullion & Jewellers Association reports a 43% increase in recycled gold volumes in the April-June quarter. Companies like Muthoot Exim and Augmont are expanding their recycling networks to capture the surge.
Indian Government Plans Rs 5,000 Crore Scheme to Help Steel Industry Adopt Green Technologies
The Indian government is planning a Rs 5,000 crore scheme to support the steel industry's adoption of green technologies, according to a report by Business-Today (via Times of India). No further details have been provided.
Commodities Gold Futures Rise to ₹1,47,710 per 10 Grams on Spot Demand; MCX August Contract Gains 1.34%
Gold futures on the Multi Commodity Exchange (MCX) for August delivery surged 1.34% to ₹1,47,710 per 10 grams on Friday, July 3, 2026, driven by fresh speculative buying amid firm spot demand. Globally, gold futures in New York rose 1.19% to $4,171.27 per ounce.
India Silver Import Curbs Create Shortages, Push Premiums to Six-Month High
India's import restrictions on silver have nearly halted overseas purchases, causing domestic shortages and pushing premiums to a six-month high of $6.5 per ounce. The government aims to ease pressure on foreign exchange reserves by curbing precious metals imports, but the market now faces supply tightness despite initial ETF sell-offs.
Commodities Gold wavers as investors weigh US strikes on Iran, await Fed minutes
Gold prices fluctuated on Wednesday as fresh US military strikes against Iran boosted oil and the dollar, stoking inflation fears. Investors awaited the release of the Federal Reserve's June meeting minutes for direction on interest rates. Spot gold rose 0.5% to $4,125.59 per ounce after earlier hitting its lowest since July 2.
Spot Gold Hits One-Week Low at $4,100 per Ounce as Strong Dollar and Crude Rally Weigh on Bullion
Spot gold dropped to its lowest in a week at $4,100.32 per ounce, pressured by a stronger US dollar and rising crude oil prices following US strikes on Iran. Domestic gold prices in India fell by Rs 1,400 to Rs 1,49,250 per 10 grams, while silver shed Rs 200. Market participants await key US economic data for direction.
Commodities Gold Prices in India Fall Across All Cities on July 7, 2026: Mumbai, Delhi, Chennai, Kolkata Rates Decline
Gold prices in India declined on July 7, 2026, according to The Hindu Business Line. The price of 22-carat gold fell by ₹125 per gram in Mumbai, Delhi, Ahmedabad, Bengaluru, and Kolkata, while Chennai and Hyderabad saw a steeper drop of ₹160 per gram. 24-carat gold also decreased across all cities, with Chennai and Hyderabad recording the largest fall of ₹168 per gram.
Gold price prediction today: Limited upside amid US inflation, key levels to watch July 6, 2026 week
Gold prices are expected to see limited upside due to persistently high inflation in the US, according to Manav Modi of Motilal Oswal Financial Services. The metal edged higher last week on a weaker dollar and soft labour data, but remains range-bound. Key technical levels include resistance at 151,800 and support at 144,650 on MCX. The Fed's June meeting minutes and US inflation data will be the main drivers this week.
Gold Holds Near Two-Week High on Weak US Jobs Data; Silver Extends Gains for Fifth Session
Gold traded near a two-week high around $4,174.66 per ounce on Monday after weaker-than-expected US jobs data reduced expectations of an immediate Fed rate hike. Silver extended gains to a fifth consecutive session, reaching $62.47 per ounce. JPMorgan lowered its gold demand outlook, while physical demand softened in India and improved slightly in China.
Commodities Rise in dollar inflows via FCNR(B) deposits may add pressure on gold prices
Domestic gold prices fell 6% in the past month to ₹146,344 per 10g on July 3, driven by global weakness and expectations of substantial dollar inflows through RBI's FCNR(B) deposit scheme. The scheme, which offers higher rates and forex hedging support, has already attracted $7 billion in June, with inflows projected to reach $50 billion by October, strengthening the rupee and adding downside pressure on gold.
Commodities India needs 500,000 tonnes refined copper capacity every 5 years to meet demand: ICA
India will require roughly 500,000 tonnes of additional refined copper capacity every five years to keep pace with rising demand, according to International Copper Association India (ICA India) Managing Director Mayur Karmarkar. Copper demand grew 9.3% to 1,878 kilo tonnes in FY25, driven by strong growth in building construction (11% yoy) and infrastructure (17% yoy). Despite planned capacity additions from Hindustan Copper, Hindalco, and Kutch Copper, domestic production remains insufficient to meet long-term demand.
Aluminium Association Urges PMO to Protect Indian Industry from Surging Low-Quality Scrap Imports
The Aluminium Association of India (AAI) has appealed to the Prime Minister's Office to protect the domestic aluminium industry from a surge of low-quality scrap imports. Imports reached 3.48 million tonnes in FY26, with a forex outgo of over ₹88,400 crore. The association is seeking higher basic customs duty and publication of quality standards to curb low-grade scrap inflows.
Commodities Gold Prices Surge Across Indian Cities on July 3, 2026: Check Latest Rates in Mumbai, Delhi, Chennai, Kolkata
Gold prices in India increased across all major cities on July 3, 2026. The price for 8 grams of 22-carat gold rose by ₹2,360 in most cities, while 24-carat gold saw increases of ₹2,472 to ₹2,520. Mumbai, Delhi, Chennai, Kolkata, Bengaluru, Ahmedabad, and Hyderabad all reported higher rates.
Gold Price Prediction: MCX August Futures Show Bullish Bias, Analysts Advise Buy on Dips
MCX Gold August futures are showing a bullish bias, with prices recovering strongly and trading above short-term moving averages. Analyst Jateen Trivedi recommends a buy-on-dips strategy, with entry near Rs 1,47,400 and targets up to Rs 1,48,600.
Commodities Gold Heads for First Weekly Rise in Five on Easing Fed Rate-Hike Bets After Weak Jobs Data
Gold rose more than 1% on Friday, heading for its first weekly gain in five weeks, after softer-than-expected US jobs data lowered expectations for Federal Reserve interest rate hikes. Spot gold hit $4,177.31 per ounce, while US futures climbed to $4,190.70. Traders now see a 54% chance of a September rate hike, down from 66% before the data.
Gold jumps over 1% after weak US jobs data, silver advances on weaker dollar
Gold prices surged more than 1% on Friday after weaker-than-expected US employment data reduced expectations of further Federal Reserve rate hikes. The rally put bullion on track for its first weekly gain in five weeks. Silver, platinum and palladium also advanced, supported by a weaker US dollar and renewed central bank purchases of gold in May.
Adani and IHC form $11.5 billion joint venture for integrated aluminium project in Odisha
Adani Group and International Holding Company (IHC) of Abu Dhabi have formed an equal joint venture to build an $11.5 billion integrated aluminium complex in Odisha, India. The project includes a 4-million-tonne alumina refinery, a 2-million-tonne aluminium smelter, a 1-million-tonne downstream facility, and a 4,000-MW captive power plant. Adani Enterprises also launched a $1 billion QIP to support the venture.
Commodities Downside Limited for Aluminium and Copper Declines Fundamentally, Analysts Say
Aluminium and copper prices have fallen 17.5% and 6% respectively in the past month, but analysts from BMI, ING Think, and Sunsirs see limited downside due to supply deficits, Middle Eastern supply disruptions, and resilient demand. Aluminium is at $3,100/t (up 3% YTD) and copper at $13,300/t (up 7.5% YTD) on the LME.
Silver price crash: It was being called the 'new gold'. So what went wrong?
Silver prices have crashed more than 50% since their January 2026 peak, with COMEX Silver down 52% from its all-time high. The correction, far steeper than gold's decline, was driven by profit-booking, industrial demand destruction, and safe-haven flows into the US dollar amid the US-Iran war.