Bullion Prices Soar Amid Renewed Buying Interest Ahead of US CPI Data

Bullion prices surged significantly on August 11 amid renewed buying interest from investors.

The international spot gold traded 1.68 percent up at $4,494 per ounce, while silver surged 1.88 percent to $66.50 per ounce during the morning trade on Comex.

The key focus this week will be on US CPI data, which will shape the Federal Reserve's policy outlook and expectations around future interest-rate paths.

Jateen Trivedi, VP Research Analyst at LKP Securities, predicts MCX Gold will trade in the ₹1,50,000-1,54,000 range in the near term.