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Gold prices will remain sensitive to developments in West Asia, movement in crude oil prices, and a series of key economic data releases in the coming week, analysts said. Investors will monitor trade and inflation data from China and the US, mid-month Washington's consumer sentiment figures and India's Consumer Price Index (CPI) readings. The European Central Bank's monetary policy decision will also be in focus as market participants assess their impact on bullion and other commodities, they added. "Momentum for precious metals such as gold and silver still looks corrective," Pranav Mer, Vice President, EBG -- Commodity & Currency Research, JM Financial Services Ltd, said. Domestic commodity markets ended the week lower, with MCX gold futures for August delivery falling Rs 5,317, or 3.3 per cent, to Rs 1.55 lakh per 10 grams. Silver for July delivery fell Rs 18,461, or 7 per cent, to Rs 2.48 lakh per kilogram on the Multi Commodity Exchange (MCX). "Gold witnessed a weak ...
Gold and silver may face some selling pressure this holiday-shortened week as traders track peace talks between the US and Iran, crude oil rates and the Federal Reserve's policy decision, analysts said. Domestic commodity markets would remain closed on Friday on account of Maharashtra Day. "Focus in the coming week will remain on the progress in peace talks between the US and Iran, and their potential impact on oil, gold, and broader financial markets," Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services Ltd, said. On the macroeconomic front, traders will monitor monetary policy decisions from the US Federal Reserve, Bank of Japan, Bank of England and European Central Bank. Besides this, key US data on housing, Personal Consumption Expenditures (PCE) inflation and consumer confidence, along with factory activity numbers from major economies later in the week, will also guide sentiment, he added. Analysts said the April 29 Federal Open Market ...