Bullion market: What will guide gold, silver prices this week?
Gold and silver prices are expected to remain range-bound this week as investors await key U.S. economic data, including non-farm payrolls. Market sentiment is also being influenced by geopolitical tensions and uncertainty regarding the Federal Reserve's interest rate policy.
Why it matters
Precious metals are key indicators of market sentiment and economic stability, making these price trends significant for global investors.
Gold and silver outlook: Gold and silver prices are expected to move in a narrow range this week as investors await key economic data, especially the US non-farm payrolls report, for clues on the Federal Reserve's next interest rate move.According to analysts, the market will also track purchasing managers' index (PMI) data from the US, the UK, the Eurozone and Japan. July employment data from the US, including non-farm payrolls and the unemployment rate, will be closely watched.Developments related to the US-Iran conflict and the stability of crude oil supplies through key shipping routes will also influence market sentiment.Jateen Trivedi, VP Research Analyst - Commodity and Currency at LKP Securities, told PTI that MCX gold is expected to remain within a limited range in the near term."MCX gold to trade in the Rs 1.40-1.44 lakh per 10 grams range in the near-term, with the directional move hinging on US macroeconomic…
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