Gold, Silver Prices Rise Amid Favorable Global Conditions

On August 17, gold and silver prices rose due to demand and favorable global conditions. Analysts expect this trend to continue in the coming week, but with potential volatility caused by developments in West Asia and upcoming economic data releases.

Gold futures for October delivery on the Multi Commodity Exchange (MCX) increased by 0.44% to Rs 1,55,182 per 10 grams. In New York, gold futures advanced 0.40% to USD 4,394.01 per ounce.

According to Pranav Mer of EBG - Commodity & Currency Research, JM Financial Services Ltd, gold and silver could move towards Rs 1.57 lakh per 10 grams and Rs 2.54 lakh per kg, respectively.