Gold falls to Rs 1.36 lakh, silver down 5% on MCX this week; what’s the outlook?
Gold price outlook: Market participants will watch inflation data from India, the US, the UK, the Eurozone and Japan. The minutes of the Federal Open Market Committee meeting, remarks by Federal Reserve officials and US employment figures will also be closely monitored. Gold and silver both recorded sharp losses on the Multi Commodity Exchange (MCX) over the past week.
Gold and silver prices on the MCX have experienced a decline over the past week, with gold falling by 4.10% to Rs 1.36 lakh per 10 grams and silver dropping by nearly 5% to Rs 1.76 lakh per kg. Analysts attribute this trend to various factors, including inflation figures from key economies, signals from the US Federal Reserve, developments in West Asia, and China's industrial production data.
The outlook for the following week remains cautious to bearish, with volatility expected to stay elevated. Market participants will closely monitor inflation data, Federal Open Market Committee meeting minutes, remarks by Federal Reserve officials, US employment figures, and China's industrial production data to gauge the future direction of gold and silver prices.
Brief written by urgent.news from Times of India's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
