1 week ago
Gold and Silver May Extend Rally as US Data Looms
Gold and silver prices rose strongly during the past week.
Analysts think prices may stay high next week.
Some investors could sell to lock in profits, which might slow the rally.
US inflation and economic growth data could influence the next price move.
Traders will also listen for signals from the Federal Reserve.
The Jackson Hole symposium is scheduled for August 27-29.
Softer bond yields and better market liquidity helped support gold prices.
Events involving the US-Iran peace process or deal and the Strait of Hormuz could also affect bullion prices.
Gold and silver are expected to remain firm next week after strong weekly gains.
Analysts will watch US Core PCE inflation, GDP data and Federal Reserve signals.
October gold futures on MCX rose 5.13% to about ₹1.62 lakh per 10 grams.
September silver futures on MCX gained 4.52% to roughly ₹2.46 lakh per kilogram.
The US-Iran peace process or deal and Strait of Hormuz developments could affect prices.
- Who
- Gold and silver traders, analysts, the Federal Reserve and US economic officials are central to the outlook.
- What
- Gold and silver may extend their recent rally, although profit-booking could limit further gains.
- Where
- Prices rose on India’s Multi Commodity Exchange and in international markets, including New York.
- When
- The outlook concerns next week; the Jackson Hole symposium is scheduled for August 27-29, and the report was published August 23, 2026.
- Why
- US inflation and GDP data, Federal Reserve commentary, bond yields, liquidity and West Asia geopolitical developments are expected to influence prices.
Reasons for Further Gains
Reasons for Caution
Near-term price direction
Reasons for Further Gains
Analysts expect gold and silver to retain upward momentum, with the overall bias remaining positive.
Reasons for Caution
Profit-booking at higher levels could temper or interrupt the rally.
Market conditions
Reasons for Further Gains
Renewed buying, softer bond yields, improving liquidity and US Treasury bond-buyback measures supported the recent advance.
Reasons for Caution
US inflation data, GDP figures, Federal Reserve commentary and geopolitical developments could create uncertainty about further gains.
Geopolitical outlook
Reasons for Further Gains
Developments related to the US-Iran peace process or deal and a possible reopening of the Strait of Hormuz remain factors traders are watching.
Reasons for Caution
The articles do not establish whether those developments will support or weaken bullion prices, leaving their market impact uncertain.
Key facts
- MCX gold performance
- October gold futures gained ₹7,932, or 5.13%, to close at about ₹1.62 lakh per 10 grams.
- MCX silver performance
- September silver futures rose ₹10,673, or 4.52%, to settle at about ₹2.46 lakh per kilogram.
- International gold performance
- December Comex gold futures gained $243.3, or 5.5%, to finish at $4,680.6 per ounce.
- International silver performance
- September silver futures climbed $4.42, or nearly 7%, to $69.53 per ounce in New York.
- Key economic data
- US Core Personal Consumption Expenditures inflation and GDP figures are expected to be major triggers for bullion prices.
- Federal Reserve event
- The Jackson Hole symposium is scheduled for August 27-29, with Federal Reserve Chair Kevin Warsh set to deliver his first keynote address.
- Market support
- Analysts attributed the rally to renewed buying, softer bond yields, improving liquidity and US Treasury measures involving buybacks of longer-dated bonds.
- Geopolitical factors
- Traders will monitor developments involving the US-Iran peace process or peace deal and the possible reopening of the Strait of Hormuz.
Quotes
Jateen Trivedi
Vice President and Research Analyst for Commodity and Currency at LKP Securities
“Gold futures ended yet another week in the positive with International spot gold closing above $4,620, ending with a weekly gain of more than 5 per cent in global markets.”
thehindubusinessline.com
“Gold remained firmly positive this week, gaining more than 5 per cent to close near ₹1.62 lakh per 10 grams on the MCX.”
thehindubusinessline.com
Sources
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