Global markets navigated a turbulent week (ended April 2), with sentiment swinging between optimism and anxiety amid conflicting signals from Washington and Tehran.



The US dollar held firm, closing above 100 for the second straight week. Heightened uncertainty in West Asia supported the greenback, as the Iran conflict raised the risk of sustained higher energy prices, which could keep inflation elevated and complicate the Federal Reserve’s path toward policy easing. The dollar traded in a choppy range of 99.3–100.6, mirroring the mixed tone in the conflict.



Stronger-than-expected US economic data, including labour market indicators, ISM Manufacturing PMI, and retail sales, further reinforced the “higher-for-longer” interest rate narrative, keeping US Treasury yields supported. Meanwhile, Wall Street staged a relief rally, with major benchmarks gaining 3–4 percent, marking their first weekly advance since the onset of the Iran conflict.

Gold and silver experienced significant volatility, driven by shifting geopolitical cues and movements in the dollar and bond yields. Early sentiment was cautious, with the US-Iran conflict showing little sign of resolution. However, optimism around potential de-escalation, supported by signals from Tehran and reports of a possible scaling back of US military involvement, lifted prices, with gold climbing to a two-week high of $4,790 per ounce and silver surging above $76 per ounce.   


Geopolitical deadlock and US inflation data to test commodity market nerves- Moneycontrol.com