Gold and Silver Markets Prepare for Volatility Amid Key Global Events
The gold and silver markets are bracing for volatility ahead of key global events. Gold futures for October delivery on the Multi Commodity Exchange (MCX) edged up ₹17 to ₹1,52,784 per 10 grams last week, while silver fell ₹2,684, or 1.13%, to settle at ₹2.34 lakh per kilogram.
Analysts warn that market sentiment will be influenced by the US Federal Reserve's interest rate decision, crude oil movements, the US dollar, and developments in the US-Iran conflict. The Fed's policy and Chair Kevin Warsh's commentary are expected to set the tone for precious metals on September 15-16.
According to Jateen Trivedi, VP Research Analyst at LKP Securities, gold will remain highly sensitive to these factors going forward. A moderation in crude prices or a less hawkish stance by the Fed could support a recovery in gold, while renewed strength in crude oil or a hawkish policy signal may trigger fresh selling.