Gold and Silver Markets Brace for Another Volatile Week
Gold and silver markets are bracing for another volatile week as US jobs data and geopolitical tensions take center stage. Investors will be closely tracking manufacturing and services PMI data from major economies, including India's inflation figures from the Eurozone and Germany, and US non-farm payroll data due towards the end of the week.
According to Jateen Trivedi, VP Research Analyst at LKP Securities, 'The coming week is likely to remain highly volatile, with market participants attempting to price in the probability of a September Federal Reserve policy change.'
Last week, gold futures for October delivery on the Multi Commodity Exchange (MCX) tumbled ₹6,157, or 3.8 per cent, to ₹1.56 lakh per 10 grams, while silver futures for September contract plunged ₹9,893, or 4 per cent, to ₹2.36 lakh per kilogram.
Comex gold futures for December delivery declined $150.7, or 3.2 per cent, to settle the week at $4,680.6 per ounce, while silver futures fell $2.56, or 3.64 per cent, to $67.78 per ounce.