Politics · India Bureau
Gold, silver poised for gains as markets await US inflation data
Precious metals are expected to maintain upward momentum in the coming week, though profit-taking may provide some restraint. Key US inflation readings and geopolitical developments in West Asia will drive trading sentiment.
LSN India ·
Gold and silver prices are likely to sustain their recent rally next week, with analysts flagging the possibility of selective profit-booking as investors position ahead of crucial economic data from the United States.
US Core Personal Consumption Expenditures inflation figures and GDP data are expected to be primary market movers for bullion in the near term. These readings could influence Federal Reserve policy signals and global interest rate expectations, which typically impact precious metals valuations.
Geopolitical developments in West Asia, particularly progress on US-Iran relations and the status of the Strait of Hormuz, will also remain under investor scrutiny as potential bullion catalysts.
On Indian commodity exchanges, gold futures for October delivery advanced Rs 7,932, or 5.13 per cent, to close at Rs 1.62 lakh per 10 grams on the Multi Commodity Exchange during the week. Silver for September delivery surged Rs 10,673, or 4.52 per cent, settling at Rs 2.46 lakh per kilogram.
Market analysts maintain a constructive outlook for precious metals in the immediate term, though they caution that elevated price levels may trigger some profit-taking among traders seeking to lock in gains.