Gold Prices Likely to Remain Volatile Amid Ongoing Geopolitical Tensions
Gold prices are expected to remain volatile and range-bound in the coming week as investors track key economic indicators, geopolitical developments, and movements in the US dollar.
The upcoming release of mid-month manufacturing and services Purchasing Managers' Index (PMI) readings from major economies will be closely watched for cues on the outlook for monetary policy and bullion demand.
On the Multi Commodity Exchange (MCX), gold futures for October delivery rose Rs 1,597, or 1.04 per cent, last week to close at Rs 1.54 lakh per 10 grams.
Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, said that MCX gold witnessed a weak opening near Rs 1.5 lakh per 10 gram but staged a strong recovery towards Rs 1.54 lakh per 10 gram as buying interest emerged at lower levels.
Comex gold futures for December delivery ended marginally higher at USD 4,424.9 per ounce in New York, while silver gained 3 per cent to USD 67.15.