Bullion to stay firm next week as traders brace for tariff verdict, Fed rate decision: Analysts
Investors will closely watch inflation numbers from the US, India, and Germany, along with trade and investment figures from China, and key commentary
Bullion to stay firm next week as traders brace for tariff verdict, Fed rate decision: Analysts
New Delhi: Gold and silver prices are expected to stay firm next week as traders brace for the US Supreme Court’s hearing on trade tariffs and the Federal Reserve’s upcoming interest rate decision, analysts said.
The focus will also shift to the Union Budget 2026, to be presented by Finance Minister Nirmala Sitharaman on February 1, which could influence domestic bullion sentiment through changes in import duties and fiscal measures, they added.
“The bullion prices 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,” Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services Ltd, said.
Investors will closely watch inflation numbers from the US, India, and Germany, along with trade and investment figures from China, and key commentary from Federal Reserve officials, he added. On the Multi Commodity Exchange (MCX), gold futures surged Rs 13,520 or 9.5 per cent, over the past week. It hit an all-time high of Rs 1,59,226 per 10 grams on Friday.
Meanwhile, silver registered a steeper rally, soaring by Rs 46,937, or 16.3 per cent, during the week to breach the Rs 3 lakh per kilogram mark for the first time ever. “On the MCX, gold prices rallied from Rs 1.43 lakh per 10 grams to near Rs 1.6 lakh grams during the week, driven by escalating US-Iran tensions which drove safe-haven demand,” Prathamesh Mallya, DVP - Research, Non - Agri Commodities and Currencies, Angel One, said.
He added that the US decision to send naval assets towards Iran and impose sanctions on Iranian oil networks further added a risk premium to markets. In the international market, gold futures on Comex gained $384.3, or 8.4 per cent, last week, touching a record of $4,991.40 per ounce on Friday.
Meanwhile, silver prices gained $12.7, or 14.4 per cent, to cross the historic $100 per ounce mark for the first time, before settling at $101.33 per ounce.
