Gold, silver may see correction next week: Analysts

New Delhi: Gold and silver prices are expected to see more corrective moves for the coming week as investors closely track geopolitical developments in West Asia & key central bank meetings that could affect the trajectory of the global monetary policy, analysts said.

Traders will remain focused on the evolving conflict in West Asia as any signs of escalation or de-escalation could trigger sharp swings across financial markets, they added.

These central banks are widely expected to keep the interest rates unchanged, and market participants will closely analyse their forward guidance for fresh insights on the trajectory of the global monetary policy, Mer said. Bullion prices in the domestic markets remained under pressure during the past week.

On MCX, silver tanked Rs 8,850, or 3.3 per cent, while gold declined Rs 3,168, or 2 per cent.

In the global market, Comex silver slipped nearly $3, or 3.52 per cent, during last week, while gold fell $97, or 2 per cent.