On the Multi Commodity Exchange, gold futures for December delivery gained ₹3,682, or nearly 3 per cent, over the past week to close at ₹1.42 lakh per 10 grams | Image: Bloomberg
Bullion prices are likely to remain under pressure next week as investors track developments in the US-Iran conflict, movements in crude oil prices and inflation data for cues on the outlook for interest rates, analysts said.
The focus will be on inflation prints from China, the US, Germany, Japan and India. Investors will also closely track speeches by Federal Reserve officials and US employment data.
Chinese economic indicators will be important for industrial metals, they added.
Geopolitical developments will remain a key driver after US President Donald Trump confirmed fresh military strikes on Iran, while claiming that Washington had made "a lot of progress" in negotiations with Tehran, adding another layer of uncertainty.