Gold price outlook: Prices could remain range-bound despite strong gains; here's why
Gold prices are expected to remain range-bound as traders monitor US economic data, geopolitical tensions, and monetary policy shifts. Despite recent volatility, analysts suggest that buying interest at lower levels has provided some support for bullion.
Why it matters
Gold remains a key indicator of market sentiment and a hedge against macroeconomic uncertainty for global investors.
Gold is likely to remain volatile and range-bound in the coming week as traders track movements in the US dollar and bond yields, developments in the the Middle East conflict and the direction of crude oil prices.According to analysts, after a week dominated by monetary policy and geopolitical developments, investors are expected to turn their attention to a fresh set of economic data, including mid-month manufacturing and services Purchasing Managers' Index (PMI) readings from major economies.At the same time, US housing data, durable goods orders and consumer sentiment readings due towards the end of the week will also be closely watched for cues on the monetary policy outlook and bullion demand, analysts said, according to PTI.MCX gold gains over 1% last weekOn the Multi Commodity Exchange (MCX), gold futures for October delivery rose Rs 1,597, or 1.04 per cent, last week to close at Rs 1.54 lakh per 10 grams.Silver…
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