Kolkata: The price of gold and silver which is ruing at lifetime peaks is expected to remain at elevated levels next week as the uncertainty factor hangs
thick in the air with expectations of US Fed rate cut and the US Supreme Court supposed to announce its verdict on Trump tariffs. At the domestic level, the Budget 2026 is expected to keep traders guessing, and analysts expect all these factors to provide tailwind to the price of the precious metals, that have been setting new peaks every other day this year.
“There is already a frenzy among investors to put their money in gold and silver. The precious metals are being bought in different forms from bars and coins to ETFs and even ETF Fund of Funds. This frenzy can continue for some time to come though a degree of volatility might vary in the two metals. Every dip is being construed as a buying opportunity. A large part of the investors are even acting out of FOMO,” said financial strategist and director Wishlist Capital, Nilanjan De.
Gold, silver prices at home and abroad
On MCX (Multi Commodity Exchange), gold futures jumped by Rs 13,520 or 9.5% in one week and the metal touched an all-time high level of Rs 1,59,226 per 10 grams on Friday. The run in silver was steeper and the price shot by Rs 46,937, or 16.3%, in just one week and sailed past the Rs 3 lakh per kg level for the first time.
In the global market too gold and silver futures gained handsomely. On Comex, gold futures rose 8.4% or $384.3 to reach a new peak of $4,991.40 per ounce on Friday. Silver future gained a lot more and settled at $101.33 per ounce — rising 14.4% or $12.7. This was the first time the price of the white metal crossed the psychological level of $100. The price of gold can easily cross the $5,000 per ounce mark this week.
“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, was quoted in the media as saying.
Apart from the above-mentioned factors, traders will also keep a watch on some other numbers such as inflation numbers from the US and Germany and trade and investment performance by China, indicated analysts.
US-Iran faceoff
To all these economic factors, another trigger added its own weight. That is the decision of the US to warships in the direction of Iran as well as impose sanctions on Iranian oil ecosystem.
Manav Modi, analyst – commodities, Motilal Oswal Financial Services pointed out to the media that prices of gold and the silver jumped after US President Donald Trump announced 10% tariff on the UK and some EU nations could rise to 25% from June as a sort of caution on Greenland, which can become a flashpoint plunging NATO allies into a deteriorating confrontation.
Reports indicate that investments into gold and silver ETFs continued to pour in ahead of the US Supreme Court verdict on trade tariffs. The apex court which has parried the verdict can deliver it this week.
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds, precious metals, commodity, REITs, InvITs and any form of alternative investment instruments and crypto assets.)
