New Delhi: Precious metal prices are expected to remain in a corrective phase next week as investors track geopolitical developments in West Asia and key macroeconomic data from major economies for fresh direction, analysts said.
Speeches from Federal Reserve Chair Jerome Powell on Monday and other Fed officials later in the week will also be closely watched for signals on monetary policy, which is likely to influence bullion demand, they added.
In the domestic market, gold futures ended marginally lower at Rs 1.44 lakh per 10 grams over the past week, while silver settled in the green, rising by Rs 1,182, or 0.52 per cent, to Rs 2.27 lakh per kilogram on the Multi Commodity Exchange (MCX).
In the international markets, gold settled nearly 2 per cent lower at $4,492.5 per ounce, while silver ended the week marginally higher at $69.79 per ounce.
According to analysts, geopolitical tensions remained a key driver, with escalating conflict in West Asia intensifying volatility in the bullion prices.
Despite temporary relief after US President Donald Trump signalled a 10-day pause on Iran’s energy infrastructure attacks, the dollar index remained near 100, capping gains in bullion, they added.