Gold price outlook: Prices could remain range-bound despite strong gains; here's why - The Times of India

AI desk brief

Gold is seen staying volatile and range-bound near term as traders weigh USD moves, Treasury yields, Middle East tensions and crude oil; MCX October gold rose Rs 1,597, or 1.04%, last week to Rs 1.54 lakh/10g, while silver gained nearly 3% to Rs 2.41 lakh/kg. In global markets, Dec Comex gold ended marginally higher at $4,424.9/oz and silver rose 3% to $67.15/oz, with analysts citing bargain buying after recent consolidation and continued ETF inflows over the past 7-8 sessions.

The next catalysts are mid-month PMIs, US housing data, durable goods and consumer sentiment, which will guide rate expectations and bullion demand. Markets are also watching the PBoC meeting on Monday, with rates expected to stay unchanged.