Gold-Silver Outlook: Will gold and silver become cheaper this week or will the price rise to record high? Know expert opinion

Gold-Silver Outlook: Buyers are also scared due to the continuous volatility seen in the prices of gold and silver. People are not able to understand whether this is a good time to buy or they should wait more. Experts believe that there will not be a big rise or fall in gold prices next week. The market’s eyes are fixed on the ongoing talks between America and Iran. At the same time, due to geopolitical tension and high energy prices, silver may remain in a strong trend.

Apart from the news coming from the Middle East, investors will also keep an eye on US housing data, GDP data, consumer confidence data and PCE inflation data. These data will help in estimating what stance the US Federal Reserve may take regarding interest rates.

How will be the condition of gold next week?

Pranav Mer, Vice President of Commodity and Currency Research at JM Financial Services, says that gold prices may remain in a limited range next week. He believes that the market’s focus will once again be on the ongoing peace talks between America and Iran. At the same time, the trend of silver seems positive at the moment.

How was your performance last week?

Multi Commodity Exchange The futures price of gold on MCX closed at Rs 1.58 lakh per 10 grams with a slight rise last week. On the other hand, silver futures closed with slight weakness at Rs 2.71 lakh per kg.

Big fall in crude oil

According to Jatin Trivedi, Research Analyst, LKP Securities, gold prices remained in a limited range last week and a gain of about 0.40% was recorded on MCX. During this period, sharp profit booking was seen in crude oil and the prices fell by about 7% from the upper levels. This has reduced concerns about global inflation.

The strengthening of rupee stopped the rise of gold

According to Trivedi, the rupee improved from a weak level of 97 against the dollar to around 95.70. This strengthening of the rupee had an impact on the domestic gold prices and despite the stable trend in the international market, gold could not rise much.

Weakness in the international market

In the international market, the futures price of gold on Comex fell by about 1% during the week and closed at $ 4,523.2 an ounce. At the same time, a decline of about 2% was recorded in silver and its price reached $ 76.20 an ounce.

The market did not get any big signal

Pranab Mer says that in the last few trading sessions, gold prices kept moving within a limited range and the week ended with a slight decline. According to him, neither any major signal was received on the economic front nor any clear result emerged from the US-Iran talks. For this reason the market could not find any strong direction.

The market will keep an eye on every new news

Analysts believe that different claims coming from both the countries have alerted investors. Now they are waiting for some clear agreement. In such a situation, the impact of every new news coming from West Asia can be seen sharply on the prices of gold and silver.

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Federal Reserve signals will also be important

Apart from this, investors will also keep an eye on the comments of US Federal Reserve officials. Recently Kevin Varsh has taken over the responsibility of the US Central Bank in place of Jerome Powell. Amidst geopolitical tensions, market volatility and persistent inflationary pressures, Fed signals may play an important role in determining the future direction of the market.