Gold price and silver rate are likely to rise in the week starts from Monday, February 22. In the international markets, Comex silver futures increased USD 4.38, or 5.62 per cent to finish at USD 82.34 per ounce, while gold gained USD 34.6, or nearly 1 per cent, to close at USD 5,080.9, during the past week.
Market participants will closely watch key economic indicators, including the US Producer Price Index (PPI), consumer confidence data, weekly initial jobless claims and the People's Bank of China's lending rate decision, for cues on the direction of precious metals, analysts said. Investors sought safety in safe-haven assets amid renewed trade tensions following US President Donald Trump's decision to raise global tariffs and rising geopolitical strains in the Middle East, they said.
"Markets are awaiting the US producer price index (PPI), housing data, consumer confidence, regional Fed indicators, and the People's Bank of China's prime rate decision," Choice Broking said.
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