Gold, Silver Prices Forecast to Remain Volatile Amid Market Uncertainty

Gold and silver prices are expected to remain volatile in the coming week as traders monitor movements in the US dollar, bond yields, West Asia conflict developments, and crude oil prices. On the Multi Commodity Exchange (MCX), gold futures for October delivery rose ₹1,597, or 1.04%, last week to close at ₹1.54 lakh per 10 grams, while silver futures gained ₹6,629, or nearly 3%, to end at ₹2.41 lakh per kilogram.

Jateen Trivedi, VP Research Analyst - Commodity and Currency at LKP Securities, noted that MCX gold witnessed a weak opening last week near ₹1.5 lakh per 10 gram but staged a strong recovery towards ₹1.54 lakh per 10 gram as buying interest emerged at lower levels.

The market is now shifting its focus to fresh economic data, including mid-month manufacturing and services Purchasing Managers' Index (PMI readings) from major economies. Analysts also expect investors to watch the release of US housing, durable goods orders, and consumer sentiment readings towards the end of the week for cues on monetary policy and bullion demand.

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