Gold, silver brace for turbulent week

New Delhi: Precious metals may witness heightened volatility when markets open on Monday as the collapse of US-Iran negotiations keeps sentiment fragile and investors track domestic inflation and Chinese economic data, analysts said.

Traders will also monitor the US Producer Price Index (PPI), crude oil prices and speeches from Federal Reserve officials for further direction on bullion prices. Domestic commodities market will remain closed on Tuesday for the morning trade on account of Dr Baba Saheb Ambedkar Jayanti but will resume trading in the evening session. “Focus will be on the key Chinese data on trade, investments and growth, etc. along with inflation numbers from Euro zone economies. In the domestic market, traders will monitor the Consumer Price Index (CPI) and Wholesale Price Index (WPI) inflation earlier in the week,” Pranav Mer, Vice President, EBG, Commodity & Currency Research, JM Financial Services Ltd, said.