Commodities
US Economic Data in Focus as Gold and Silver Prices Extend Gains
Gold and silver prices are expected to remain firm next week as investors await key US economic data, while elevated levels could trigger profit-booking in bullion markets.
The near-term direction of precious metals is likely linked to US economic indicators, particularly data that influences expectations around interest rates. Softer US data has previously supported gold by reducing expectations of higher rates and putting pressure on the dollar.
Gold prices on the Multi Commodity Exchange (MCX) have gained more than 5% over the past week, while silver rose 4.5%. Recent domestic prices have reached three-month highs, with gold of 99.9% purity in Delhi rising to ₹1.635 lakh per 10 grams on August 21.