September Gold Prices Set for Another Shock Amid Fed Expectations and Iran Tensions
Gold and silver prices are facing another shock in September as investors weigh US employment data, Federal Reserve policy expectations, and geopolitical tensions involving Iran. Analysts expect bullion prices to remain volatile due to these factors.
Traders will monitor the release of manufacturing and services PMI readings from major economies, including India, along with inflation data from the Eurozone and Germany. US non-farm payrolls are also expected to be a key market trigger.
Jateen Trivedi, VP Research Analyst - Commodity and Currency at LKP Securities, said: 'The coming week is likely to remain highly volatile, with market participants attempting to price in the probability of a September Federal Reserve policy change.'
Last week, gold futures for October delivery on the Multi Commodity Exchange (MCX) fell ₹6,157, or 3.8 per cent, to ₹1.56 lakh per 10 grams.