India
Gold, silver prices likely to extend gains next week, analysts say
Analysts expect gold and silver prices to maintain upward momentum in the coming week, though profit-booking at higher levels could limit gains. US inflation and GDP data, along with West Asia developments, are cited as key triggers.
Gold and silver prices are expected to maintain upward momentum next week, although profit-booking at higher levels could limit gains, according to analysts. Key US economic data, including Core Personal Consumption Expenditures (PCE) inflation and GDP figures, are expected to be major triggers for bullion prices. Developments in West Asia, particularly a possible US-Iran peace deal and reopening of the Strait of Hormuz, are also being watched.
On the domestic market, gold futures have gained over 5 percent on MCX, while silver has risen 4.5 percent. Pranav Mer, senior vice president at JM Financial Services, said the bias is expected to remain positive, but some profit-booking cannot be ruled out.
- Gold prices
- Silver prices
- MCX gold futures
- Bullion market analysis
- US inflation data
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