Gold and Silver May Keep Rising as Fed Minutes and Middle East Tensions Loom
Analysts expect bullion to stay firm next week, with gold and silver prices likely to climb amid Fed minutes and ongoing Middle East conflict.
Bullion analysts project that gold and silver will maintain their upward trajectory next week, hinging on cues from the Federal Reserve's meeting minutes and the persisting Middle East unrest. Pranav Mer of JM Financial predicts gold could reach Rs 1.57 lakh per 10 grams and silver Rs 2.54 lakh per kilogram, while Jateen Trivedi of LKP Securities points to recent domestic gains of roughly 2 % for gold futures and 1.9 % for silver futures on the MCX.
Overseas, COMEX gold rose about 1 % to $4,437.3 per ounce and silver climbed 2.5 % to $65.11 per ounce. The rally may face intermittent profit-booking after a 9.5 % rise in MCX gold this month, yet safe-haven buying persists amid US-Iran tensions in the Strait of Hormuz. Key drivers remain the US dollar, interest-rate expectations, and geopolitical developments, according to market experts.
Why it matters
Precious-metal prices affect investors, inflation hedges and economies worldwide.
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