Bullion Prices to Remain Positive Amid West Asia Tensions and Fed Minutes

Analysts predict gold and silver prices to remain positive next week, despite elevated volatility due to West Asia developments and key global economic data. Market participants will track US housing and trade data, inflation figures from the UK, Eurozone, and Japan, as well as China's economic indicators for cues on industrial metals.

The minutes of the Federal Reserve's FOMC meeting will also be closely watched for signals on the US Central bank's monetary policy outlook. According to Pranav Mer, Senior Vice President at EBG - Commodity & Currency Research, JM Financial Services Ltd, 'the outlook for gold and silver remains positive and are expected to move up towards Rs 1.57 lakh per 10 grams and Rs 2.54 lakh per kg level.'

On the domestic front, gold futures for October delivery climbed Rs 2,686, or nearly 2 per cent, last week to close at Rs 1.54 lakh per 10 grams on the Multi Commodity Exchange (MCX). MCX silver for September contract gained Rs 4,458, or 1.9 per cent, to Rs 2.35 lakh per kilogram.

The US dollar, interest-rate expectations and geopolitical developments will remain key drivers for bullion prices, according to Jateen Trivedi, VP Research Analyst at LKP Securities.