Gold, silver may extend losses as US vote, jobs data test sentiment - Business Standard

AI desk brief

Gold and silver are seen extending losses next week as bearish momentum persists, with markets focused on the US midterm election, upcoming US labor data, eurozone inflation and major PMIs for direction. Any escalation involving the US, Israel and Iran could lift crude and trigger broader risk-asset selling, but the near-term setup currently points to further pressure on bullion.

On the MCX, December gold futures fell Rs 3,539, or 2.5%, last week to Rs 1.38 lakh per 10 grams, while silver dropped Rs 16,587, or 8.5%, to Rs 1.79 lakh per kg.