Gold and silver outlook hinges on US-Iran tensions and inflation data
Analysts expect bullion to track the US-Iran conflict and inflation figures from major economies next week, according to Moody's.
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what happened
According to Moody's, analysts say gold and silver are likely to stay under pressure next week. Investors will watch the US-Iran conflict, crude oil moves, and inflation data from China, the US, Germany, Japan and India, along with comments from Federal Reserve officials.
Over the past week, December gold futures on the MCX gained Rs 3,682, or nearly 3 percent, closing at about Rs 1.42 lakh per 10 grams. On Comex, December gold rose 4.5 percent to $4,074.9 an ounce. Silver gained 5.4 percent to $51.94 an ounce.
Stronger-than-expected US payrolls and better consumer sentiment initially weighed on metals by lifting the dollar and Treasury yields. Prices then rallied after the US midterm results, while a selloff in AI, data centre and tech stocks added safe-haven demand.
why it matters
Two forces matter most for metals now: geopolitics and rate expectations. Strong jobs data supports the dollar and yields, which weighs on gold, while demand for safe havens props it up. Copper weakened late in the week, weighing on industrial metals.
market impact
Gold and silver: stronger dollar and yields pressure prices, safe-haven demand offsets
- Gold mixed — a stronger dollar and higher yields weigh, while safe-haven demand supports
- Silver mixed — the same pull between dollar strength and safe-haven buying, plus industrial demand
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sources
- Gold, silver outlook hinges on US-Iran tensions, global inflation data next week — Moody's, 8 November 2026 at 06:50 UTC
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