Silver, gold likely to extend gains next week on global trade & Mid-East tensions

New Delhi: Silver and gold are expected to extend their gains next week as investors sought safety in safe-haven assets amid renewed trade tensions following US President Donald Trump’s decision to raise global tariffs and rising geopolitical strains in the Middle East, analysts said.

Market participants will closely watch key economic indicators, including the US Producer Price Index (PPI), consumer confidence data, weekly initial jobless claims and the People’s Bank of China’s lending rate decision, for cues on the direction of precious metals, the analysts added.

On the Multi Commodity Exchange, silver futures climbed Rs 8,584, or 3.5 per cent, while gold advanced Rs 981, or nearly 1 per cent, over the past week.

In the international markets, Comex silver futures increased $4.38, or 5.62 per cent to finish at $82.34 per ounce, while gold gained $34.6, or nearly 1 per cent, to close at $5,080.9, during the past week.