Business & Finance

Gold and Silver End Week on Gains, Face Uncertain Week Ahead

By Shivanghi Payal

Gold and silver finished the week with gains in both domestic and international markets, but investors are uncertain whether the rally will continue. Prices may stay pressured next week as markets await a busy schedule of inflation data, crude oil movements and new developments in the US‑Iran conflict.

In India, December gold futures on the Multi Commodity Exchange rose 3.68% to Rs 1.42 lakh per 10 grams, while silver futures climbed 3.15% to Rs 1.84 lakh per kilogram. Globally, Comex gold futures for December delivery advanced 4.5% to $4,074.90 per ounce, and silver futures increased 5.4% to $51.94 per ounce.

Analysts say the recent rally was helped by bargain buying at lower price levels and by traders covering short positions. However, a correction in industrial metals, especially copper, and a decline in technology stocks limited the gains. The week’s rally was also supported by a sharp rise after the U.S. midterm election, which saw Democrats win both the Senate and the House.

Investors will focus on inflation releases from China, the U.S., Germany, Japan and India, as well as speeches by Federal Reserve officials and U.S. employment data. These readings could signal the direction of interest rates and influence sentiment toward precious metals.

Geopolitical tensions remain a key factor. President Donald Trump confirmed fresh U.S. military strikes on Iran while noting progress in negotiations with Tehran. Markets will also watch the progress of U.S.‑Iran peace talks and Russia‑Ukraine talks.

Domestic bullion prices may see moderate fluctuations next week as traders react to international price movements, currency changes and inflation trends. Festive demand around Diwali will also influence domestic trading, and the commodity market will be closed for the morning session on Tuesday due to Diwali‑Balipratipada.