New Delhi, Delhi
Gold prices are continuing to decline in both domestic and international markets. In India, gold has fallen to around ₹1,50,250 per 10 grams, while international gold prices have dropped to approximately $4,138 per ounce. In Indian currency terms, this is equivalent to around ₹1.28 lakh per 10 grams.
Gold prices have declined by nearly 3% this week. Even weaker-than-expected US employment data failed to provide significant support to the precious metal. Investors are now closely watching the key $4,000-per-ounce level in the international market.
According to market experts, upcoming economic data from the United States will play an important role in determining the direction of gold prices next week. US inflation data, signals regarding Federal Reserve interest-rate policy and movements in the US dollar could significantly influence gold prices.
Gold prices are generally sensitive to movements in the US dollar and American interest rates. Therefore, upcoming economic indicators are expected to remain important for market participants.
Four key economic data releases are expected from the United States next week. Investors will analyse these figures to assess the likely direction of the US Federal Reserve’s future interest-rate policy.
Experts believe that if US economic indicators remain unfavourable for gold, prices could face continued pressure. On the other hand, signs of potential interest-rate cuts could provide renewed support to the precious metal.
For now, the $4,000-per-ounce level remains a crucial technical and psychological threshold in the global market. Investors will closely watch whether gold manages to hold above this level or falls below it in the coming days.
