Gold Prices to Remain Volatile Amid Dollar and West Asia Tensions

Gold prices are expected to remain volatile and range-bound in the coming week as traders track movements in the US dollar, developments in West Asia, and crude oil prices. Analysts say investors will focus on fresh economic data, including manufacturing and services Purchasing Managers' Index readings from major economies.

The Multi Commodity Exchange (MCX) saw gold futures for October delivery rise Rs 1,597, or 1.04 per cent, last week to close at Rs 1.54 lakh per 10 grams. Silver futures gained Rs 6,629, or nearly 3 per cent, to end at Rs 2.41 lakh per kilogram.

According to Jateen Trivedi, VP Research Analyst - Commodity and Currency at LKP Securities, the recovery in gold prices followed a period of heightened volatility as markets digested major macroeconomic and geopolitical developments.

In global markets, Comex gold futures for December delivery ended marginally higher at USD 4,424.9 per ounce, while silver gained 3 per cent to USD 67.15 in New York.