Gold, silver prices likely to extend gains next week as investors await US data

Gold and silver prices are expected to maintain their upward momentum next week, although profit-booking at higher levels could limit the gains as investors await key US inflation and economic data, analysts said.US Core Personal Consumption Expenditures (PCE) inflation and GDP figures are expected to be the key triggers for bullion prices. Developments around West Asia, particularly the US-Iran peace deal and reopening of the Strait of Hormuz, will also remain in focus.“In the coming trading session, we expect bias to remain positive, but some profit-booking cannot be ruled out,” Pranav Mer, senior vice president, EBG - commodity & currency research, JM Financial Services Ltd, said, as cited by news agency PTI.Gold gains over 5% on MCX, silver rises 4.5%On the domestic market, gold futures for October delivery gained Rs 7,932, or 5.13 per cent, during the week to close at Rs 1.62 lakh per 10 grams on the Multi…