Gold, Silver Seen Range-Bound For Second Week Amid US-Iran Talks: Analysts

&amp;nbsp;Gold and silver may remain range-bound for a second consecutive week as investors assess developments in US-Iran peace negotiations and global macroeconomic data, analysts said.Traders will track inflation data from China, Germany, and the United States, along with GDP numbers from the Eurozone and the UK, later this week, they added.&quot;Gold prices momentum looks consolidative, while silver movement looks positive in the coming week as traders will focus again on the progress on peace talks between the US and Iran to end the war and markets are likely to react accordingly,&quot; Pranav Mer, Vice President, EBG - Commodity &amp;amp; Currency Research, JM Financial Services Ltd, said.On the Multi Commodity Exchange (MCX), gold futures gained Rs 1,178, or nearly 1 per cent over the past week, to settle at Rs 1.52 lakh per 10 grams. Silver climbed Rs 10,985, 4.4 per cent, to close at Rs 2.61 lakh per kg.&quot;Gold traded with a positive undertone last week, posting gains of nearly 1 per cent on MCX and closing around Rs 1.52 lakh per 10 grams,&quot; Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, said.He added that the correction in crude oil prices after easing geopolitical risk premiums also improved sentiment for bullion.&quot;Lower US Treasury bond yields and a softer dollar index also helped gold remain stable despite volatility across global markets,&quot; Trivedi said.In the international market, Comex gold futures advanced nearly 2 per cent during the past week to close at USD 4,730.7 per ounce, and silver climbed 5.8 per cent to finish at USD 80.86 per ounce.&quot;Gold prices traded steady and moved in a consolidation range through most of the week; however, overall momentum remained positive amid a dip in the dollar and reports of progress on a likely peace deal framework to end the US-Iran war,&quot; Pranav Mer said.Silver also ended with strong gains for the second straight week, supported by renewed buying of copper prices, a weaker US dollar, and signs of supply tightness in the global market, he added.According to the World Gold Council, the bullion was also supported by continued central bank buying and renewed inflow of funds in the global exchange-traded funds.However, precious metal prices were range-bound on Friday, as gains were capped by signs of a re-escalation in the conflict after US and Iranian forces clashed in the Persian Gulf, Mer said.Meanwhile, the United Arab Emirates came under renewed attacks, but President Donald Trump calmed markets, saying &quot;a ceasefire was still holding.&quot;Analysts, investors will watch developments around US President Donald Trump&#039;s expected China visit and the Senate vote on new Federal Reserve Chair nominee Kevin Warsh.In the domestic market, inflation, trade numbers and rupee movement will also remain crucial for bullion prices for next week.(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

Gold, Silver Seen Range-Bound For Second Week Amid US-Iran Talks: Analysts

On the Multi Commodity Exchange (MCX), gold futures gained Rs 1,178, or nearly 1 per cent over the past week, to settle at Rs 1.52 lakh per 10 grams. Silver climbed Rs 10,985, 4.4 per cent, to close at Rs 2.61 lakh per kg.

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