Bullion Prices Poised to Extend Gains Amid Key US Data Releases
Bullion prices are expected to maintain their upward momentum next week as investors await key US data, according to analysts. This comes despite potential profit-booking at higher levels.
The US Core Personal Consumption Expenditures (PCE) inflation and GDP figures will be closely watched by bullion traders, who believe these developments could significantly impact prices.
On the domestic market, gold futures for October delivery gained 5.13% to close at Rs 1.62 lakh per 10 grams on the Multi Commodity Exchange (MCX). Silver futures for September delivery surged 4.52% to settle at Rs 2.46 lakh per kg.
Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, attributed the rally in gold prices to renewed buying interest, softer bond yields, and improving liquidity conditions.