Inflation, Oil, and Iran: Key Drivers in Gold and Silver Markets This Week
Analysts point to several key factors that will influence gold and silver prices this week. The upcoming US inflation figures, crude oil price movements, and geopolitical tensions in West Asia are expected to be major drivers.
US Consumer Price Index (CPI) inflation report for August 2026 is scheduled for release on September 11, which could trigger significant market movement according to Pranav Mer, Senior Vice President at EBG - Commodity & Currency Research, JM Financial Services Ltd. 'US inflation numbers would be the key trigger for bullion markets amid considerable speculation over the interest rate outlook,' he said.
Gold prices have been under pressure due to stronger-than-expected US jobs data and increased expectations of a Federal Reserve rate hike. However, dovish remarks from Fed Governor Christopher Waller and indications that the Iran escalation could be contained have pulled back rate-hike expectations, leading to a retreat in the US dollar and bond yields.