Gold, Silver Prices Set to React to US Inflation Data and Crude Oil Movements
The prices of gold and silver are likely to remain sensitive to upcoming US inflation data, crude oil movements, and geopolitical developments in West Asia this week. Investors will be closely tracking signals on the global interest rate outlook, according to analysts.
US inflation numbers are expected to trigger a reaction in bullion markets amid speculation over the interest rate outlook, said Pranav Mer, Senior Vice President at EBG - Commodity & Currency Research, JM Financial Services Ltd. The US Consumer Price Index (CPI) inflation report for August 2026 is scheduled to be released on September 11.
Mer also noted that gold prices are looking for resistance at Rs 1.57 lakh per 10 grams, while silver still maintains a positive bias as long as prices remain above support at Rs 2.31 lakh per kg. On the domestic market, gold futures for October delivery declined Rs 3,514, or 2.2 per cent, last week to Rs 1.52 lakh per 10 grams on the Multi Commodity Exchange.
Central banks globally continue to diversify their reserves, with the People's Bank of China buying 20 tonnes of gold in August, marking its 21st consecutive month of purchases. Its year-to-date buying has reached 60 tonnes, while total gold reserves stand at 2,366 tonnes.