Gold and silver may stay volatile this week as US-Iran tensions, crude oil, the dollar and inflation data shape prices. 5 factors to track before deciding whether to buy or wait
Inflation data from the US, China, Germany, Japan and India are due next week. Investors will also track US employment figures and speeches by Federal Reserve officials. These developments could influence expectations around interest rates. If the likelihood of rate cuts increases, gold could receive support. However, a stronger US dollar could weigh on bullion prices.How much did gold and silver prices rise last week? In the domestic market, December-delivery gold futures rose by Rs 3,682 last week to close at Rs 1.42 lakh per 10 grams. Silver futures also gained Rs 5,655 per kg, ending at Rs 1.84 lakh. In the international market, gold prices climbed 4.5% to $4,074.9 per ounce, while silver rose 5.4% to settle at $51.94 per ounce.Should you buy gold now or wait? It is difficult to predict whether gold prices will fall next week. Global developments, the dollar’s value and inflation data are likely to determine the market’s direction. Buyers should track daily prices before making a decision. Whether to wait for a possible decline or buy at current levels depends on their requirements and budget.
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Gold prices have delivered a major shock to buyers who expected a decline this month, just as they did in October. Prices have been rising over the past few days, leaving buyers worried. The surge in gold and silver prices, especially around Dhanteras, disappointed those waiting to make purchases. Many had postponed buying in anticipation of a price drop and are now unsure what to do. Will gold prices continue to rise next week, or could they finally fall? Here’s what to expect.
