Gold, silver outlook hinges on US-Iran conflict, inflation data - The Siasat Daily

AI desk brief

December Comex gold futures rose 4.5% over the reported week to $4,074.9/oz, while silver gained 5.4% to $51.94/oz, despite Friday selling pressure. JM Financial Services’ Pranav Mer nevertheless described momentum as downward, with analysts expecting pressure in the following week as investors monitor US-Iran developments, crude oil, inflation releases and Fed commentary. Mer attributed initial weakness to stronger US payrolls and consumer sentiment lifting the dollar and Treasury yields; analysts credited the recovery to bargain buying, short-covering and safe-haven demand. Further direction could depend on inflation’s implications for interest rates and progress in peace negotiations.