
National · 39 updates
Gold and silver prices are expected to trade within a narrow range this week. Investors await key US economic data, especially non-farm payrolls, for Fed policy direction. Purchasing managers' index data from major economies will also be closely monitored. Developments concerning the US-Iran conflict and crude oil supplies will influence sentiment. Analysts anticipate gold to trade between Rs 1.40-1.44 lakh per 10 grams.
Gold and silver prices are expected to remain firm next week. Investors will track inflation data from major economies and West Asia developments. Upcoming Chinese economic data will also be important for industrial metals. Analysts predict gold and silver will trade with a positive bias. Volatility is expected to remain elevated due to economic data and geopolitical uncertainty.
Gold had begun the week on a positive mark, breaking above the trendline resistance while the weekly trend keeps the door open for further gains. The 149,000 mark is the backbone of the bullish setup.
Gold and silver prices may continue their upward trend next week. Geopolitical and economic cues will significantly influence this momentum. Analysts expect bullion to retain its positive bias amid global data. Investors will monitor US housing, trade, and inflation figures closely. Federal Reserve meeting minutes will also provide monetary policy outlook signals.
Shares of gold loan providers, including Muthoot Finance, Manappuram Finance and IIFL Finance, extended their gains on Friday as gold prices continued to climb, supported by a weaker dollar and the US Treasury’s bond-buyback move.Gold prices have been recording sharp gains since Thursday after a surprise liquidity support announcement by the US Treasury pushed yields and the dollar lower.Gold futures on the MCX with an October expiry crossed Rs 1.6 lakh per 10 grams, while the December and February contracts traded above Rs 1.62 lakh and Rs 1.64 lakh per 10 grams, respectively.Muthoot Finance,
HDFC Mutual Fund and Axis Mutual Fund have resumed subscriptions in their respective gold ETFs, gold funds and gold ETF FoFs after Tata Mutual Fund and Aditya Birla Sun Life Mutual Fund announced resumption of subscription in their respective gold based funds.According to a notice cum addendum, HDFC Mutual Fund announced that based on the temporary restrictions on lumpsum subscriptions in HDFC Gold ETF and HDFC Gold ETF Fund of Fund, it has now been decided to resume subscriptions in the HDFC Gold ETF Fund of Fund with effect from August 14.Also Read | Tata Mutual Fund resumes subscription for
Gold and silver prices are poised for further gains next week. Investors await crucial US inflation and economic data releases. Geopolitical developments in West Asia will also influence market sentiment. Domestic gold and silver futures saw significant increases this past week. Global bullion prices mirrored this upward trend, supported by liquidity measures.
Silver prices have fallen steadily over the past seven months, following an extraordinary rally that pushed the metal more than 300% higher year-on-year. In January, silver crossed Rs 4 lakh per kg on the Multi Commodity Exchange for the first time.
The Reserve Bank of India (RBI) has announced the premature redemption price for the SGB 2021-22 Series VI, which was issued on September 7, 2021. In a statement, the RBI has said that investors in this gold bond series will be able to exercise the premature redemption option from September 7, 2026.
At current prices, 10 grams of 24-karat gold costs around Rs 1.5 lakh, an amount that would buy approximately 650 grams of silver. With gold prices remaining prohibitively high for a large section of middle-class buyers, the white metal is steadily attracting attention. High gold prices have made the precious metal out of reach for several people.
Gold and silver prices are anticipated to remain range-bound with modest support from rupee fluctuations. Investors will focus on upcoming inflation data from India, China, and the US. Additionally, trade data from China and Federal Reserve officials' speeches will be monitored closely. Geopolitical tensions, particularly involving the US and Iran, may also impact market sentiment. Overall, significant factors influencing bullion prices include currency movements and investment demand.
Gold enters the week Rs 150,750 after recovering from the recent decline towards Rs 146,000–147,000, although prices remain well below the September peak near Rs 163,000–165,000. The daily structure has improved modestly, with gold moving back above the 20-day average near Rs 150,263, suggesting that selling pressure is stabilising after the recent correction.
Gold and silver prices have shown signs of recovery after facing pressure earlier in October.