Outlook for the precious metals remains closely tied to the direction of US monetary policy, with expectations of higher interest rates emerging as a key pressure point for the metal. Stronger-than-expected inflation data could reinforce expectations of further rate increases, while elevated bond yields and a firmer US dollar could add to the pressure on gold.
At the same time, geopolitical tensions and higher oil prices remain important market factors, with rising energy costs adding to inflation concerns.
Silver is also facing pressure, having declined more than 4% over the week, according to Reuters. Broader precious-metal sentiment remains shaped by shifting expectations around central-bank tightening, while analysts expect interest-rate increases across several developed markets.
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