Gold and silver are expected to move in a narrow band this week as investors wait for major US economic readings, especially the non-farm payrolls report, for signals on the Federal Reserve's next interest-rate move. Analysts see the data as a key trigger that could shape near-term sentiment in precious metals.
The focus on US job numbers matters because expectations around interest rates often influence bullion prices. When traders see stronger clues on the Fed's policy path, that can affect the dollar, bond yields and overall demand for gold and silver as defensive assets.
In the domestic market, gold futures for August delivery fell by ₹1,595, or 1.1%, over the past week to settle at ₹1.41 lakh per 10 grams. That decline reflects the cautious tone in the market, with participants avoiding aggressive bets before fresh macroeconomic signals emerge.
For now, analysts expect gold and silver to remain range-bound until the upcoming data provides clearer direction. Unless there is a major surprise in the economic numbers or in Fed expectations, price action in the precious metals segment may stay largely confined in the near term.
