Gold and Silver Prices Expected to Remain Range-Bound This Week
The gold and silver markets are expected to remain range-bound this week as traders await key US economic data, including the non-farm payrolls report, and fresh signals from the Federal Reserve on its future interest rate trajectory.
Investors will monitor purchasing managers' index (PMI) data from major economies, while developments surrounding the US-Iran conflict and crude oil supply stability through key shipping routes will remain important drivers of market sentiment.
MCX gold is projected to trade between Rs 1.40-1.44 lakh per 10 grams, with directional movement dependent on US macroeconomic data.
According to Jateen Trivedi, VP Research Analyst - Commodity and Currency at LKP Securities, 'uncertainty surrounding the Federal Reserve's interest rate policy remains a significant factor weighing on bullion prices.'