Gold, silver prices: US inflation, interest rates and West Asia tensions in focus - CNBC TV18

AI desk brief

Gold and silver are softer in early Asian trade as the market pivots from safe-haven geopolitics to rates: COMEX gold is around $4,456.50/oz, down 0.45%, while silver is at $66.685/oz, down 0.09%. The immediate macro focus is US August CPI on Sept. 11, with traders watching whether a hotter print keeps the Fed on a higher-for-longer path and sustains pressure from elevated Treasury yields near 4.78% on the 10-year.

Indian futures were also weak last week, with MCX October gold falling ₹3,514, or 2.2%, to about ₹1.52 lakh per 10 grams and silver dropping ₹4,786, nearly 2%, to ₹2.37 lakh per kg. Near-term levels cited by analysts put gold resistance around ₹1.57 lakh/10g, while silver retains a constructive bias above ₹2.31 lakh/kg. Market participants are framing the latest West Asia escalation as an inflation/rates risk rather than a straight safe-haven bid, which explains why bullion did not get a conventional geopolitical lift.

For silver, the backdrop is more two-sided because industrial demand adds a growth-sensitive component on top of the macro rate impulse. Analysts said investors will also track China, Japan and eurozone data for industrial activity signals. The article also points to ongoing structural support from central-bank buying, including World Gold Council-cited PBoC demand, though the source text is truncated before the full data point is completed.