On the domestic front, he noted that traders will track the Consumer Price Index and Wholesale Price Index readings early in the week.
He added that bullion markets have remained highly sensitive to developments around the US-Iran talks, with any progress likely to support risk assets such as equities and commodities, while setbacks could trigger renewed volatility across financial markets.
“Gold prices closed in positive for the third straight week, supported by a weaker dollar, safe-haven buying amid ongoing geopolitical uncertainty in West Asia, and reports of a rebound in physical demand in countries such as India and China,” Mer said.
He also pointed out that softer-than-expected US economic data and persistent inflationary pressures driven by elevated oil prices have strengthened expectations that the Federal Reserve may keep interest rates unchanged