Gold and Silver Prices Expected to Stay Firm Amid US Economic Data

Gold and silver prices are expected to remain firm next week as investors await key US economic data, while elevated levels could trigger profit-booking in bullion markets.

The upward move has also been reflected in global bullion markets, supported by investor demand amid economic uncertainty.

The continued rise in bullion prices remains a key factor for jewellery retailers and manufacturers, with domestic prices already reaching three-month highs. Gold of 99.9% purity in Delhi rose to ?1.635 lakh per 10 grams on August 21.

Analysts expect the near-term direction of precious metals to remain linked to US economic indicators, particularly data that could influence expectations around interest rates.