US Inflation Data, Crude Oil, and Iran Conflict to Drive Gold and Silver Prices
Gold and silver prices are expected to remain sensitive to upcoming US inflation data, crude oil movements, and geopolitical developments in West Asia this week. Investors will be closely tracking signals on the global interest rate outlook, analysts said.
The US Consumer Price Index (CPI) inflation report for August 2026 is scheduled to be released on September 11, which could trigger significant price movements in the bullion markets. Pranav Mer, Senior Vice President of EBG - Commodity & Currency Research at JM Financial Services Ltd, noted that 'US inflation numbers would be the key trigger for bullion markets amid considerable speculation over the interest rate outlook.'
On the domestic market, gold futures for October delivery declined Rs 3,514, or 2.2 per cent, last week to Rs 1.52 lakh per 10 grams on the Multi Commodity Exchange. Silver futures fell Rs 4,786, or nearly 2 per cent, to Rs 2.37 lakh per kg.
In international markets, Comex gold futures for December delivery fell USD 53.3, or nearly 1.2 per cent, to end the week at USD 4,476.6 per ounce. Silver declined 1.52 per cent to USD 66.75 per ounce in New York.