Gold Prices Poised to Shine Next Week Amid US Economic Data Releases

Gold and silver prices are poised to continue their upward trajectory next week, driven by key US economic data releases and signals from the Federal Reserve. Traders will be closely monitoring US Core Personal Consumption Expenditures (PCE) inflation and GDP figures, which could influence bullion prices.

The upcoming Jackson Hole symposium, featuring Federal Reserve Chair Kevin Warsh's keynote address, will also be closely watched by bullion traders. The event is scheduled to take place from August 27-29.

Domestic gold futures for October delivery have seen a significant gain of 5.13 per cent this week, closing at Rs 1.62 lakh per 10 grams on the MCX. International Comex gold futures for December delivery also rose by 5.5 per cent, settling at $4,680.6 per ounce.