Gold & silver brace for volatile week after failed US-Iran talks

New Delhi: Precious metals may witness heightened volatility when markets open on Monday as the collapse of US-Iran negotiations keeps sentiment fragile and investors track domestic inflation and Chinese economic data, analysts said.

Besides developments related to West Asia, traders will also monitor the US Producer Price Index (PPI), crude oil prices and speeches from several Federal Reserve officials for further direction on bullion prices, they said.

Domestic commodities market will remain closed on Tuesday for the morning trade on account of Dr Baba Saheb Ambedkar Jayanti but will resume trading in the evening

session.

On the MCX, precious metals settled the week on a green territory. Silver futures jumped Rs 10,779, or nearly 5 per cent, while gold appreciated Rs 2,972, or 2 per cent.

In the global markets, Comex gold futures rose $107.7, or 2.3 per cent, during the last week, while silver gained $3.56, or nearly 5 per cent.