Gold, Silver Prices Expected to Shine Next Week Amid US Inflation Data and Fed Signals
Gold and silver prices are expected to remain positive next week as traders await key US inflation data and signals from the Federal Reserve. Analysts predict that the upward momentum will continue, but profit-booking at higher levels may temper the rally. The US Core Personal Consumption Expenditures (PCE) inflation and GDP figures will be closely watched by bullion traders.
The developments surrounding West Asia geopolitics, particularly the US-Iran peace deal and reopening of the Strait of Hormuz, will also remain in focus. Analysts say that these events may impact market sentiment and influence gold and silver prices.
Globally, Comex gold futures for December delivery rose $243.3, or 5.5%, to close at $4,680.6 per ounce. Silver futures for September delivery climbed $4.42, or nearly 7%, to $69.53 per ounce in New York.
Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, said that gold remained firmly positive this week, gaining more than 5% to close near ₹1.62 lakh per 10 grams on the MCX. The rally was supported by renewed buying interest in bullion, softer bond yields, and improving liquidity conditions.