Volatile Gold Prices to Remain Range-Bound Amid Economic Data Releases

Gold prices are expected to remain volatile and range-bound in the coming week as traders track developments in the US dollar, bond yields, the Middle East conflict, and crude oil prices.

According to analysts, after a week dominated by monetary policy and geopolitical events, investors will focus on fresh economic data, including mid-month manufacturing and services Purchasing Managers' Index (PMI) readings from major economies.

The US housing data, durable goods orders, and consumer sentiment readings due towards the end of the week will also be closely watched for cues on monetary policy outlook and bullion demand, analysts said.

On the Multi Commodity Exchange (MCX), gold futures for October delivery rose Rs 1,597, or 1.04 per cent, last week to close at Rs 1.54 lakh per 10 grams, while silver futures posted strong gains of nearly 3 per cent.