Precious metal prices are expected to remain in a corrective phase next week as investors track geopolitical developments in West Asia and key macroeconomic data from major economies for fresh direction, analysts said.
Speeches from Federal Reserve Chair Jerome Powell on Monday and other Fed officials later in the week will also be closely watched for signals on monetary policy, which is likely to influence bullion demand, they added.
"In the week ahead, focus will remain on developments in West Asia -- any sign of escalation and de-escalation may drive the financial market lower or higher," Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services Ltd, said.
On the data front, focus will be on the manufacturing PMI data from major economies, CPI readings from Germany and the Eurozone, along with US consumer confidence, nonfarm payrolls, and employment data scheduled later in the week, he added.
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Trading activity is also likely to remain thin during the next week as domestic commodity markets will close on March 31 and April 3 on account of Shri Mahavir Jayanti and Good Friday.
In the domestic market, gold futures ended marginally lower at Rs 1.44 lakh per 10 grams over the past week, while silver settled in the green, rising by Rs 1,182, or 0.52 per cent, to Rs 2.27 lakh per kilogram on the Multi Commodity Exchange.
"The bullion prices in the domestic market have remained supported by persistent weakness in the Indian rupee against the dollar. Last week, the rupee fell more than 1 per cent to close near 94.80," Mer said.
He noted that the recent sell-off was triggered by liquidation among exchange traded fund investors, subdued physical demand and strength dollar along with elevated US Treasury bond yields.
In the international markets, gold settled nearly 2% lower at $4,492.5 per ounce, while silver ended the week marginally higher at $69.79 per ounce.
"Silver posted a strong weekly recovery after a prolonged decline, tracking gains in the global markets where prices rebounded sharply.
"Weakness in US equity markets boosted safe-haven demand, though gold's traditional appeal showed signs of moderation amid rising Treasury yields and elevated oil prices," Choice Broking said.
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According to analysts, geopolitical tensions remained a key driver, with escalating conflict in West Asia intensifying volatility in the bullion prices.
Despite temporary relief after US President Donald Trump signalled a 10-day pause on Iran's energy infrastructure attacks, the dollar index remained near 100, capping gains in bullion, they added.
For the outlook, gold prices are expected to remain sideways-to-bullish in the coming week, as traders focus on key US economic data during the shortened Easter week, the brokerage firm said.
Silver sentiment was further supported by strong physical demand from China, with imports hitting an eight-year high of 206.76 metric tonnes in the first two months of 2026, rising 49% month-on-month and 5,910% YoY, tightening global supply and supporting prices.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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