Gold and silver prices are expected to remain firm next week as traders brace for heightened geopolitical risks and uncertainty around the US Supreme Court’s impending verdict on President Donald Trump’s tariff policy, analysts said.Market participants will also track inflation data from major economies including the US, India and Germany, alongside trade and investment numbers from China and commentary from US Federal Reserve officials for fresh cues, PTI reported.“The bullions are expected to continue their positive momentum and corrective moves should be a buying opportunity, as focus again will remain on the US Supreme court hearing in the Trump’s trade tariffs case and the geopolitical issues surrounding US President Donald Trump’s actions & comments,” said Pranav Mer, Vice President, EBG – Commodity & Currency Research, JM Financial Services Ltd.On the Multi Commodity Exchange (MCX), gold futures rose Rs 3,058, or 2.25 per cent, over the past week to settle at Rs 1,38,819 per 10 grams on Friday.Gold prices remained volatile during the week but ended higher, indicating a firm underlying trend, said Prathamesh Mallya, DVP – Research, Non-Agri Commodities and Currencies, Angel One.“Dollar movement, Federal Reserve’s next moves, inflation and jobs data are going to be the movers for the bullion prices in the short-term,” Mallya said, adding that gold could test Rs 1,41,000 per 10 grams next week from a technical perspective.In overseas markets, gold futures climbed $171.3, or 4 per cent, during the week to close at $4,500.90 per ounce.“Gold futures continued their positive momentum and closed the week higher by more than 2 per cent, with prices in the overseas market closing near $4,500 per ounce,” Mer said, PTI quoted.Silver also posted strong gains, with MCX futures jumping Rs 16,409, or 6.94 per cent, over the week. The metal hit a record high of Rs 2,59,692 per kg before settling at Rs 2,52,725 per kg on Friday.In international trade, silver prices rose $8.32, or nearly 12 per cent, to close at $79.34 per ounce.Mer said bullion prices were supported by safe-haven demand amid elevated geopolitical tensions and mixed global economic data, though intermittent strength in the US dollar capped gains at times. He added that exchange-traded funds continued to see inflows into gold and silver as investors seek portfolio protection.On the geopolitical front, Mer highlighted rising tensions following the capture of Venezuela’s President and control over the country’s oil flows, escalation in the Russia-Ukraine conflict, unrest in Iran and broader regional frictions, all of which have underpinned safe-haven buying.Mer said silver’s bullish structure could see prices testing Rs 2,80,000-3,00,000 per kilogram.With key inflation data due this week and the outcome of the US Supreme Court’s tariff hearing likely to influence risk sentiment, analysts expect bullion markets to remain closely aligned to macroeconomic and geopolitical developments in the near term.
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