West Asia developments, Fed minutes to shape bullion's next move: Analysts

Gold and silver prices are expected to remain positive next week, although elevated volatility is likely to persist amid developments in West Asia and key global economic data, analysts said. Market participants will track US housing and trade data, inflation figures from the UK, Eurozone, and Japan, as well as China's economic indicators for cues on industrial metals. The minutes of the Federal Reserve's FOMC meeting will also be watched for signals on the US Central bank's monetary policy outlook, they added. "The outlook for gold and silver remains positive and are expected to move up towards Rs 1.57 lakh per 10 grams and Rs 2.54 lakh per kg level," Pranav Mer, Senior Vice President, EBG - Commodity & Currency Research, JM Financial Services Ltd, said. On the domestic front, gold futures for October delivery climbed Rs 2,686, or nearly 2 per cent, last week to close at Rs 1.54 lakh per 10 grams on the Multi Commodity Exchange (MCX). MCX silver for September contract gained Rs .