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Gold prices are likely to trade firm next week as traders await key economic data, including US inflation numbers, for fresh cues on interest rate outlook, while silver may remain volatile amid shifting risk sentiment and speculative activity, analysts said. Traders will look for cues from US GDP, PMI, non-farm payroll and inflation data. Also, inflation readings from China, Germany, and India will also be keenly watched. Speeches from US Federal Reserve officials will be closely tracked as well for indications on the timing of potential rate cuts and their impact on bullion prices, they added. "Gold consolidation and recovery suggest that bias still remains positive. However, in case of silver, we remain cautious of volatility and further corrections," Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services, said. During the past week, gold futures climbed Rs 7,698, or 5.2 per cent, while silver slumped Rs 15,760 or nearly 6 per cent on the Multi ...
Gold prices rallied by Rs 1,300 to Rs 1,25,900 per 10 grams in the national capital on Monday amid strong global cues and a weak dollar, according to the All India Sarafa Association. The precious metal of 99.5 per cent purity climbed by Rs 1,300 to Rs 1,25,300 per 10 grams (inclusive of all taxes) against Rs 1,24,000 per 10 grams on Friday. In the local bullion market, gold of 99.9 per cent purity had settled at Rs 1,24,600 per 10 grams in the previous market session. "Gold resumed trading on a positive note, supported by ongoing safe-haven demand and weaker US macroeconomic data that heightened expectations for a rate cut by the Federal Reserve in next month's meeting," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said. He noted that a softer dollar has provided further support for bullion. In addition, silver prices bounced by Rs 2,460 to Rs 1,55,760 per kilogram (inclusive of all taxes) on Monday. The white metal had finished at Rs 1,53,300 per kg on Friday,