Gold and silver prices are anticipated to remain range-bound with a mildly positive bias in the coming week. Analysts suggest that the domestic bullion market will continue to draw support from a weaker rupee, which helps cushion domestic prices against fluctuations in international markets. According to commodity experts, this currency-driven impact remains a key factor for domestic investors as they navigate global economic uncertainty.
Market participants are preparing to assess critical economic indicators scheduled for release, including inflation data from India, China, and the United States. Additionally, trade figures from Beijing and upcoming speeches by Federal Reserve officials are expected to provide insights into future US monetary policy. Analysts are closely watching these inputs to determine if the Federal Reserve will proceed with an interest rate hike in October or defer such action until December.
The market also remains sensitive to shifting geopolitical tensions, particularly regarding developments involving the United States and Iran. These external pressures, combined with fluctuating investment demand, are likely to influence sentiment in the near term. Recent performance on the Multi Commodity Exchange (MCX) saw December gold futures rise nearly 1 percent to settle at Rs 1.51 lakh per 10 grams, while silver futures concluded the week marginally lower at Rs 2.25 lakh per kilogram. In overseas markets, gold futures on Comex showed resilience, climbing above $4,200 per ounce following a period of bargain buying.
While gold has benefited from a softer US dollar and easing bond yields, silver’s momentum has been mixed. Despite recent recoveries supported by industrial metals such as copper and zinc, some analysts note that concerns over elevated price levels and projected supply surpluses for 2027 may limit significant upside potential for silver in the immediate future.
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