𝗚𝗼𝗹𝗱 𝗔𝗻𝗱 𝗦𝗶𝗹𝘃𝗲𝗿 𝗣𝗿𝗶𝗰𝗲 𝗢𝘂𝘁𝗹𝗼𝗼𝗸
Gold and silver prices face a range-bound week. Market participants track several key factors:
- Policy decisions from the Bank of Japan, US Federal Reserve, and Bank of England.
- Inflation data from the UK, Eurozone, Germany, and Japan.
- Progress on US-Iran negotiations.
- Crude oil price movements.
- Discussions at the G7 Summit in France regarding conflicts in Iran and Ukraine.
Domestic market data from the Multi Commodity Exchange (MCX):
- August gold futures fell 3.2% to settle at Rs 1.50 lakh per 10 grams.
- July silver futures fell nearly 1% to Rs 2.46 lakh per kilogram.
International market data:
- Comex gold futures declined 3% to USD 4,238.8 per ounce.
- Silver fell 1.6% to USD 67.97 per ounce.
Recent price shifts occurred due to energy market changes and US-Iran news. Prices recovered slightly when reports suggested no immediate military action against Iran. Weakening US dollar and lower bond yields also supported metal prices. Investors continue to watch exchange traded fund liquidations and interest rate expectations through 2027.