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Gold likely to extend gains; silver may ease: Analysts

Share FacebookTwitterWhatsAppPinterestLinkedinCopy URLTelegramEmailTumblrReddItPrintKoo NEW DELHI, Jan 18 :  Gold price is expected to maintain its upward momentum in the coming week, driven by safe-haven demand and expectations of policy easing by the US Federal Reserve, while silver may witness consolidation after a stellar rally, according to analysts. Investors’ attention will turn to a string of key global macroeconomic data, including inflation figures from major economies, as well as the Personal Consumption Expenditures (PCE) index, GDP growth, PMI readings and jobless claims, which will provide fresh cues on the Fed’s policy outlook, they said. “The focus will be on the upcoming economic numbers from China – crucial from an industrial metals perspective.

Gold likely to extend gains; silver may ease: Analysts

Credit: Dailyexcelsior

Key Highlights

  • Among other developments, US President Donald Trump’s speech at the World Economic Forum and the Supreme Court judgement on trade will be most important to watch,” Pranav Mer, Vice President, EBG – Commodity & Currency Research, JM Financial Services Ltd, said.
  • On the Multi Commodity Exchange (MCX), the yellow metal futures climbed Rs 3,698, or 2.7 per cent, over the past week.
  • It had increased to hit a record of Rs 1,43,590 per 10 grams on Wednesday.
  • “Gold prices on the domestic market were up 2.7 per cent for the week, partly supported by a weaker rupee against the dollar.
  • Later, the yellow metal pared some gains on Friday amid profit-booking and long-liquidation, as the risk premium eased following the US President’s softer tone on Iran, better-than-expected jobs data, and a firm dollar,” Mer said.
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Sources

  1. Gold likely to extend gains; silver may ease: Analysts

This quick summary is automatically generated using AI based on reports from multiple news sources. The content has not been reviewed or verified by humans. For complete details, accuracy, and context, please refer to the original published articles.

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