Overview
- Investors are focused on US housing numbers, consumer confidence, weekly jobless claims, GDP and PCE inflation for direction on interest rates.
- MCX December gold futures rose Rs 630 (0.51%) last week and Comex added $51.4 (1.25%), while silver fell 1.12% on MCX and 1.52% on Comex.
- Analysts point to hawkish Federal Reserve commentary, a stronger dollar and reduced chances of a December cut as key drivers of recent volatility.
- Central-bank demand, including a 12th consecutive month of buying by China, along with ETF inflows, supports a constructive medium-term outlook.
- In India, gold prices ticked up on Monday to about Rs 1,24,790 per 10 grams, with thin US holiday liquidity flagged as a potential near-term volatility risk.