Gold Braces for Volatile Week: Middle East Tensions, Key Data to Drive Prices

• Gold prices are set for a volatile week, driven by escalating Middle East tensions and crucial macroeconomic data releases.
• Pranav Mer of JM Financial Services notes that further Middle East escalation would boost gold, while de-escalation could trigger sharp selling.
• Silver is in a volatile consolidation phase, with its gains limited by gold and industrial metals like Copper and Zinc.
• Last week, domestic silver dropped 5.08% (Rs 14,359) and gold 0.3% (Rs 470); globally, Comex gold fell 1.7% (USD 89.2).
• Key factors influencing bullion include geopolitical tensions, Asian demand, central bank buying, US Treasury yields, and the strong dollar. Investors await global inflation, GDP, and PCE data.