Gold and silver are expected to face another choppy spell, with US data, West Asia tensions and their impact on crude prices set to test bullion sentiment during a holiday-shortened week, analysts said.
Market participants will shift their focus to the US data calendar, with consumer confidence, GDP and PCE inflation readings, alongside Eurozone inflation.
Additionally, manufacturing PMIs, speeches from Federal Reserve officials and the US non-farm payrolls report will provide further cues for bullion sentiment, they added.
Geopolitical uncertainty will continue to play a role, particularly the US-Iran standoff, after US President Donald Trump said that he rejected Tehran’s proposal to reopen the Strait of Hormuz within a week and resume nuclear talks in exchange for lifting the naval blockade.
Commodity markets would remain closed on Friday for Mahatma Gandhi Jayanti.
“The broader outlook remains cautious with volatility likely to stay elevated as the market will closely focus on
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