Gold and Silver Prices to Remain Positive Amid Global Economic Indicators
Gold and silver prices are expected to remain positive in the coming week, but volatility is likely to persist. Market analysts point to several key indicators that could influence metals markets.
The US will release housing and trade data, while inflation figures from the UK, EU, and Japan will be closely watched. China's economic indicators for industrial metals will also provide crucial cues.
On the domestic front, gold futures have shown strong gains in recent weeks, with MCX gold prices climbing Rs 2,686, or nearly 2%, to Rs 1.54 lakh/10 grams last week. Silver has also risen, with MCX silver for September contract increasing by Rs 4,458, or 1.9%, to Rs 2.35 lakh/kg.
Internationally, Comex gold futures have firmed up, rising $37.6, or nearly 1%, last week to $4,437.3 per ounce. Silver has also gained ground, increasing by $1.61, or 2.5%, to $65.11 an ounce in New York.