Now Reading: Gold, silver rally may continue on Fed, US-Iran risks
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Gold, silver rally may continue on Fed, US-Iran risks
Gold and silver prices are likely to stay firm this week, with analysts watching US inflation data and West Asia tensions for fresh cues. Gold futures for October delivery on MCX settled…
The Story in Brief
Gold and silver prices are likely to stay firm this week, with analysts watching US inflation data and West Asia tensions for fresh cues. Gold futures for October delivery on MCX settled around Rs 1.51 lakh per 10 grams after gaining nearly 6% last week, while silver futures jumped 7% to about Rs 2.31 lakh per kg. Internationally, December gold closed at $4,399.7 per ounce, up 7%.
Weaker US jobs data has revived hopes of easier Federal Reserve policy, supporting bullion, the Times of India reports. JM Financial's Pranav Mer sees gold moving towards Rs 1.57 lakh and silver towards Rs 2.80 lakh per kg. However, analysts warn that any sudden diplomatic or military announcement involving the US and Iran could trigger sharp swings in precious metals.
The Indian Opinion
The rally is being painted as a one-way bet on safe-haven demand, but the real driver is the softer dollar and Fed rate-cut bets. Treating every geopolitical headline as a reason to chase gold ignores how quickly such premiums unwind. Silver's sharper 10% international jump shows speculative froth, not just industrial demand. Watch the US inflation print: a hot number will test this entire bull narrative faster than any Iran headline.
Source: timesofindia.indiatimes.com
This story was synthesised by AI from the source linked above.
