Gold Markets Expect Another Volatile Month in September

The gold and silver markets are bracing for another bout of volatility in September as US jobs data, Federal Reserve policy decisions, and geopolitical tensions take center stage.

Last week, gold futures on the Multi Commodity Exchange (MCX) tumbled Rs 6,157, or 3.8 per cent, to Rs 1.56 lakh per 10 grams, while silver futures for September contract plunged Rs 9,893, or 4 per cent, to Rs 2.36 lakh per kilogram.

Analysts predict that the coming week will remain highly volatile, with market participants attempting to price in the probability of a September Federal Reserve policy change.

The US-Iran conflict and developments around the Strait of Hormuz are adding to market uncertainty, while investors will focus on manufacturing and services PMI data from major economies, including India.