Bullion Markets Gear Up for US Inflation Report and Crude Oil Price Movements
Gold and silver prices are poised to respond to several key economic indicators this week. The upcoming US inflation figures, crude oil price movements, and geopolitical tensions in West Asia will be significant drivers of bullion markets. Analysts predict that US Consumer Price Index (CPI) inflation report for August 2026, scheduled for release on September 11, will be a crucial trigger for gold prices.
Last week, gold futures for October delivery fell by Rs 3,514, or 2.2 percent, to Rs 1.52 lakh per 10 grams, while silver declined by Rs 4,786, or nearly 2 percent, to Rs 2.37 lakh per kg on the Multi Commodity Exchange.
Pranav Mer, Senior Vice President of EBG - Commodity & Currency Research at JM Financial Services Ltd, noted that gold prices are looking for resistance at Rs 1.57 lakh per 10 grams, while silver still maintains a positive bias as long as it remains above supports at Rs 2.31 lakh per kg.