West Asia Tensions and Fed Minutes to Drive Gold and Silver Volatility

West Asia tensions and the Federal Reserve's FOMC meeting minutes will be crucial in determining gold and silver prices next week, according to analysts. Despite remaining positive, volatility is expected to persist due to ongoing geopolitical developments and global economic data.

The US housing and trade data, inflation figures from the UK, Eurozone, and Japan, as well as China's economic indicators, will be closely watched by market participants for cues on industrial metals.

The minutes of the Federal Reserve's FOMC meeting will also offer insights into the US central bank's future monetary policy, which could impact bullion prices.

Gold and silver prices have been supported by safe-haven demand amid the West Asia conflict and US-Iran tensions over the Strait of Hormuz. In India, MCX gold futures gained nearly 2 per cent last week, closing at Rs 1.54 lakh per 10 grams, while MCX silver rose 1.9 per cent to Rs 2.35 lakh per kilogram.