Gold and Silver Prices Poised for Further Gains
Gold and silver prices are expected to maintain their upward momentum next week, although profit-booking at higher levels could moderate the rally.
Analysts said key US economic data and Federal Reserve signals will be among the major triggers for bullion prices in the coming week.
The US Core Personal Consumption Expenditures (PCE) inflation data and second-quarter GDP figures will be closely monitored by investors, who are also watching developments surrounding the West Asia situation, including the US-Iran peace efforts and any progress towards reopening the Strait of Hormuz.
According to Pranav Mer, Senior Vice President at EBG - Commodity & Currency Research, JM Financial Services Ltd, some profit-booking cannot be ruled out in the coming trading session.