Gold and Silver Prices Face Pressure Amid US-Iran Tensions and Inflation Data: Analysts The ongoing US-Iran tensions, fluctuations in crude oil prices, and inflation data have created uncertainty in global markets, with analysts predicting continued volatility in gold and silver prices over the coming week. Experts suggest that the precious metals market remains under pressure, with a correction phase likely to persist. Analysts highlighted that inflation data could influence global interest rates, thereby affecting investor sentiment. Recent geopolitical tensions in the Middle East have intensified fears, with Iran accusing the US of targeting a vessel that bypassed its territorial waters without permission. In response, Iran announced the closure of the Strait of Hormuz, prompting a US military strike. The conflict escalated further as Iran launched attacks on US bases in the UAE, Kuwait, and Bahrain. Pranav Meher, Senior Vice President at JM Financial Services Limited, noted that gold and silver are currently in a correction phase. He warned that if tensions escalate significantly, crude oil prices could rise again, bolstering safe-haven assets like the US dollar and American bonds. Meher also emphasized that markets would closely monitor inflation data from India, the European Union, and the US, as these figures could provide insights into the direction of major central banks’ monetary policies. Domestic markets saw declines in gold and silver prices. On the Multi Commodity Exchange (MCX), the August-delivered gold futures closed at ₹1.43 lakh per 10 grams, a 2.65% drop from the previous week’s closing price of ₹1.47 lakh. Similarly, September-delivered silver futures fell 6.2% to ₹2.22 lakh per kilogram, down from ₹2.34 lakh.#iran #strait_of_hormuz #lkp_securities #us_iran_tensions #jm_financial_services
