Gold and silver prices are expected to retain their upward momentum next week, though profit-booking at higher levels may temper the rally as investors await key US inflation data, analysts said.
US Core Personal Consumption Expenditures (PCE) inflation and GDP figures will be the key triggers for bullion.
Developments surrounding West Asia geopolitics, particularly the US-Iran peace deal and reopening of the Strait of Hormuz, will also remain in focus, they added.
“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.
On the domestic front, gold futures for October delivery gained Rs 7,932, or 5.13 per cent, to close the week at Rs 1.62 lakh per 10 grams on the Multi Commodity Exchange (MCX).
Silver for September delivery surged Rs 10,673, or 4.52 per cent, to settle at Rs 2.46 lakh per kilogram.
“Gold remained firmly
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