Gold, Silver Prices to Remain Range-Bound Amid US Jobs Data, Fed Cues
Gold and silver prices are expected to remain range-bound this week as traders await critical US economic data, including the non-farm payrolls report, and fresh signals from the Federal Reserve on its future interest rate trajectory.
The upcoming data points include US non-farm payrolls, unemployment rate, and purchasing managers' index (PMI) data from major economies. Geopolitical developments, particularly the US-Iran conflict and crude oil supply stability, will also impact market sentiment.
MCX gold is projected to trade between Rs 1.40-1.44 lakh per 10 grams, with directional movement dependent on US macroeconomic data. The uncertainty surrounding the Federal Reserve's interest rate policy remains a significant factor weighing on bullion prices.