Bullion Markets Bracing for Fresh Swings Amid Economic Data and Geopolitics
Bullion prices are bracing for another volatile week as investors await key economic data and geopolitical developments, analysts say.
Last week's correction saw gold futures for October delivery on the Multi Commodity Exchange (MCX) tumble by Rs 6,157, or 3.8 per cent, to Rs 1.56 lakh per 10 grams, while silver futures for September contract plunged by Rs 9,893, or 4 per cent, to Rs 2.36 lakh per kilogram.
The coming week will see investors tracking US jobs data, including non-farm payroll numbers, as well as inflation figures from the Eurozone and Germany.
Jateen Trivedi, VP Research Analyst - Commodity and Currency at LKP Securities, warned that market participants are attempting to price in the probability of a September Federal Reserve policy change, making the coming week highly volatile.