Commodities
Bullion Set for Strong Week Ahead of US Inflation Data
Bullion prices are expected to maintain their upward momentum next week due to key US inflation data and developments in West Asia geopolitics.
The release of US Core Personal Consumption Expenditures (PCE) inflation and GDP figures will be crucial for bullion traders, according to analysts.
On the domestic front, gold futures for October delivery gained ₹7,932, or 5.13 per cent, to close at ₹1.62 lakh per 10 grams on the Multi Commodity Exchange (MCX).
Analysts also pointed out that developments surrounding the US-Iran peace deal and the reopening of the Strait of Hormuz will remain in focus.