Gold and silver prices are expected to trade in a narrow range this week as market participants await fresh clues on the Federal Reserve's interest rate outlook.
Traders are positioning ahead of the release of the US non-farm payrolls report, which will provide critical data on the health of the US labor market and influence expectations for future monetary policy moves.
The precious metals complex has been navigating conflicting signals from the US labor market and Federal Reserve communications in recent sessions.
Heightened volatility was observed in early trading on India’s Multi Commodity Exchange (MCX) as investors digested mixed economic data.
The market is now in a consolidation phase, with prices stabilizing ahead of the upcoming economic calendar.
Recent price action has been driven by shifting expectations regarding interest rate hikes.