Precious Metals

Marathon Fusion has claimed that it converted mercury into stable gold using fusion technology, but the quantity produced, production cost and commercial viability remain unclear

The crude oil/silver ratio has fallen through the crucial support around 58, which means silver remains vulnerable to rise in oil prices.

Gold price outlook: Near-term resistance is at $4140/$4227; support is at $4000/$3930.

Gold price outlook: If Brent extends rally and feeds into hotter inflation data and firmer Fed hike bets, lifting yields and the dollar, Gold could test $4,000-mark, says Kaynat Chainwala, Kotak Neo.

Gold and silver are heading into a crucial week, with the Federal Reserve's interest rate decision, oil price movement and the US-Iran conflict determining whether bullion extends its recovery or comes under renewed pressure, analysts said. Apart from the Fed's decision, investors will monitor US Consumer Confidence, Core Personal Consumption Expenditures (PCE) inflation data, weekly jobless claims and monetary policy announcements by the Bank of England and the Bank of Japan. "Market sentiment will continue to be driven by developments in the US-Iran geopolitical situation, the direction of crude oil prices, and their impact on inflation expectations ahead of the US Federal Reserve's policy decision on July 29," said Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities. On the domestic front, gold futures for August delivery rose Rs 2,200, or 1.6 per cent, to close at Rs 1.43 lakh per 10 grams during the last week. Silver futures for September delivery gain

Hawkish Fed commentary and escalation in the US-Iran conflict will keep silver under pressure in the short term. The white metal is quite oversold but can extend its decline to test key support at $54

Silver ETFs bore the brunt of the correction, falling as much as 6 per cent during the session, while gold ETFs declined over 3 per cent

When metal value beats resale price, older Omega and TAG Heuer models become worth more as scrap than as timepieces

In near-term, the metal is expected to be under pressure unless oil prices come down on sustainable basis

Rebalance away from gold and silver and towards equity and debt

Precious metal prices are expected to witness mixed movement next week as investors track developments in the US-Iran conflict, string of global economic data releases, and domestic political cues, analysts said. Traders will closely monitor PMI readings from major economies early in the week, followed by US labour market indicators and non-farm payroll data later in the week for fresh cues on monetary policy and bullion demand, they added. "In the week ahead, precious metal prices momentum is expected to remain mixed with focus on developments on the US-Iran tussle and follow-up on peace talks," Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services Ltd, said. On the Multi Commodity Exchange (MCX), gold futures declined Rs 1,347, or nearly 1 per cent, to close at Rs 1.51 lakh per 10 grams. Silver, however, outperformed and gained Rs 879 to settle at Rs 2.50 lakh per kilogram during the past week. "Gold traded largely range-bound last week, ending ..

The metal may extend its recovery further to $5,000 in short term on ceasefire hopes. However, for a sustainable rally, it needs to reestablish its safe haven credentials.

According to data shared by Axis Securities, gold prices have declined more than 10 per cent, while silver prices have corrected by over 22 per cent since the war.

With the geopolitical premium fading, analysts believe the next trend will hinge on three factors: the US dollar and bond yields, geopolitical developments, and demand dynamics

Gold April futures on the MCX traded higher by 3.78 per cent at ₹1,44,370 per 10 gm, while silver May futures gained 5.54 per cent to ₹2,36,338 per kg

Broader market sentiment was also fragile on Monday as the war in West Asia entered its fourth week with no clear resolution in sight

Precious metal prices are likely to consolidate with a mild recovery bias next week after a sharp correction, though the upside may remain capped amid elevated interest rates and a firm US dollar, analysts said. Investors will track key macroeconomic data, including provisional manufacturing and services PMI readings from the US, UK and Japan, along with consumer sentiment and jobless claims for direction. Traders will also closely monitor oil price movement for further cues, they added. "In the week ahead, gold price may see some consolidation and slight recovery before prices make their next move either side," Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services Ltd, said. In the domestic market, precious metal prices witnessed steep losses last week. On the Multi Commodity Exchange, silver tumbled by Rs 32,663, or 12.59 per cent, to settle at Rs 2.26 lakh per kilogram, while gold dropped by Rs 13,974, or 8.82 per cent, to close at Rs 1.44 lakh

The West Asia conflict has changed the bullish narrative around Gold. High oil prices, US recession-cum-inflationary fears, and fading Fed rate cut bets weigh on the sentiment, says YES Securities.

Gold and silver prices are expected to see more corrective moves for the coming week as investors closely track geopolitical developments in West Asia and key central bank meetings that could affect the trajectory of the global monetary policy, analysts said. Traders will remain focused on the evolving conflict in West Asia as any signs of escalation or de-escalation could trigger sharp swings across financial markets, they added. "In the week ahead, focus will remain in the Middle East region as any signs of further escalation or de-escalation may led to increased volatility in the financial markets," Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services Ltd, said. On the macroeconomic front, investors will monitor a raft of key central bank meetings scheduled during the week. The US Federal Reserve will announce its policy decision on Wednesday, followed by the European Central Bank and the Bank of England on Thursday and the People's Bank of ...

At 9:23 AM, DSP Silver ETF climbed 0.32 per cent, UTI Silver ETF gained 0.27 per cent, and Groww Silver ETF rose 0.16 per cent