Bullion Traders Eye US Inflation Data Amid Geopolitical Tensions
Gold and silver prices are expected to retain their upward momentum next week as investors await key US inflation data. The upcoming releases of US Core Personal Consumption Expenditures (PCE) inflation and GDP figures will be crucial for bullion traders.
The developments surrounding West Asia geopolitics, particularly the US-Iran peace deal and reopening of the Strait of Hormuz, will also remain in focus. Analysts warn that some profit-booking at higher levels may temper the rally.
On the domestic front, gold futures for October delivery gained ₹7,932, or 5.13 per cent, to close the week at ₹1.62 lakh per 10 grams on the Multi Commodity Exchange (MCX). Silver for September delivery surged ₹10,673, or 4.52 per cent, to settle at ₹2.46 lakh per kilogram.
Experts attribute the rally in bullion prices to renewed buying interest, softer bond yields, and improving liquidity conditions. However, they caution that profit-booking at higher levels cannot be ruled out.