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Gold and silver prices are expected to extend their gains next week, as inflation data from major economies and developments on efforts to end hostilities in West Asia are likely to set the tone for bullion, analysts said. Investors will track inflation numbers from the US, Germany, Japan and India, while upcoming Chinese economic data will also be crucial for industrial metals, they added. "Gold and silver momentum looks positive and are expected to trade with a positive bias and move up towards Rs 1.57 lakh per 10 grams and Rs 2.80 lakh per kg in the short term," Pranav Mer, Senior Vice President, EBG - Commodity & Currency Research, JM Financial Services Ltd, said. On the domestic front, gold futures for October delivery climbed Rs 8,444, or nearly 6 per cent, during the week to close at Rs 1.51 lakh per 10 grams. Silver futures for the September contract surged Rs 14,268, or nearly 7 per cent, to settle at Rs 2.31 lakh per kilogram on the Multi Commodity Exchange. "Gold ...
Gold and silver are expected to remain volatile with a corrective bias in the coming week as investors assess the latest flare-up in the US-Iran conflict, movements in crude oil prices and inflation data that could reshape expectations for global interest rates, analysts said. Fresh hostilities in West Asia have once again put markets on edge. The latest round of tensions began after Iran said it had struck a vessel travelling on an unapproved route and subsequently announced the closure of the Strait of Hormuz. The US Central Command later said it carried out strikes on Tehran, following which Iran retaliated by targeting American-linked installations in the United Arab Emirates, Kuwait, and Bahrain. Analysts said any further escalation in the conflict could drive crude oil prices higher, revive inflation concerns and strengthen safe-haven assets such as the US dollar and Treasury yields, limiting the upside for precious metals. "For gold and silver, momentum remains down and ...