Gold and Silver Prices Poised to Continue Rally Amid Key Economic Data Releases

Gold and silver prices are expected to continue their upward momentum next week, although profit-booking at higher levels may moderate the rally.

The US Core Personal Consumption Expenditures (PCE) inflation data and second-quarter GDP figures will be among the major triggers for bullion prices in the coming week.

Analysts said that investors will closely monitor developments surrounding the West Asia situation, including the US-Iran peace efforts and any progress towards reopening the Strait of Hormuz.

The recent rally has been supported by renewed buying interest, softer US bond yields, and improving liquidity conditions. A weaker US dollar has also helped boost demand for dollar-denominated precious metals.