Silver, gold braces for another jittery week on US inflation data: Analysts ...Middle East

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Silver, gold braces for another jittery week on US inflation data: Analysts
Precious metal prices are expected to witness further consolidation in the next week, with volatility likely to persist as investors track key US economic data, including inflation numbers, GDP readings and policy signals from Federal Reserve, analysts said. Traders will also closely watch the US labour data, along with Federal Open Market Committee (FOMC) meeting minutes and speeches from Fed officials, for cues on the timing and pace of potential rate cuts, they added. Pranav Mer, Vice President, EBG, Commodity & Currency Research, JM Financial Services Ltd, said gold and silver prices may continue to see more consolidative moves but volatility will prevail with focus on incoming US data on GDP and the Personal Consumption Expenditures (PCE) inflation numbers and Federal Reserve official's commentary. On the domestic front, silver futures on the Multi Commodity Exchange (MCX) declined Rs 5,532, or 2.2 per cent, while gold rose Rs 444, or 0.3 per cent, over the past week. "Gold ..

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