Gold to remain in demand

Gold prices are expected to remain volatile in the coming week as traders weigh domestic festive demand and physical market premiums to key macroeconomic data release and political developments in the US, analysts said.

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Investors will also closely monitor commentaries by Federal Reserve officials, including Chair Jerome Powell, Tuesday, which will provide more cues on the trajectory of gold prices in the near term.

“In the next week, focus will be on the physical demand for bullion during the festive season in India along with global political and geopolitical developments, particularly the passage of the US spending bill and efforts to resume diplomacy on ending the Russia-Ukraine war. These factors are likely to shape gold price trends in the coming months,” Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services Ltd, said.