Bullion Markets to Remain Volatile Amid US Inflation Report and Crude Oil Price Fluctuations
The bullion markets are expected to remain volatile this week due to several factors. The US Consumer Price Index (CPI) report for August 2026, scheduled for September 11, will be a key trigger in determining gold and silver prices.
According to Pranav Mer, senior vice president of EBG - commodity & currency research at JM Financial Services Ltd, 'US inflation numbers would be the key trigger for bullion markets amid considerable speculation over the interest rate outlook.'
Last week, both precious metals ended lower. On the Multi Commodity Exchange, gold futures for October delivery fell Rs 3,514, or 2.2%, to Rs 1.52 lakh per 10 grams, while silver declined Rs 4,786, or nearly 2%, to Rs 2.37 lakh per kg.
The movement in domestic gold prices was marked by sharp swings during the week. 'MCX gold witnessed volatile moves this week, with the first half seeing continued profit booking following last Friday's correction after the Fed indicated the possibility of a rate hike,' said Jateen Trivedi, VP Research Analyst - Commodity and Currency at LKP Securities.