Overview
- Analysts see gold retaining upward momentum on expectations of Federal Reserve rate cuts, a softer dollar, lower Treasury yields, central bank purchases and ongoing ETF inflows.
- COMEX gold rose 2.09% last week to close at $4,595.4 per ounce after a record $4,650.50, while silver ended at $88.53 after a lifetime high of $93.75 and has retreated to the $89–$90 area.
- In India, MCX futures set fresh peaks during the rally, with gold touching Rs 1,43,590 per 10 grams and silver reaching Rs 2,92,960 per kilogram before late-week profit-taking.
- Traders are watching inflation prints, the US PCE index, GDP, PMI and jobless claims, along with China’s data, President Trump’s World Economic Forum address and a Supreme Court trade ruling for policy cues.
- Strategists say silver’s long-term case remains supported by tight supply and rising industrial demand, though a near-term pullback is possible as prices approach the $100 level and the metal’s cyclical traits reassert.