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Gold prices are expected to maintain a positive trend in the coming week as global markets await the US Federal Reserve’s monetary policy decision, analysts said on Sunday. Weakness in the rupee and hopes of an interest rate cut are also supporting the bullish sentiment.

Analysts noted that traders will closely track the outcome of the Federal Open Market Committee (FOMC) meeting and statements from Fed Chair Jerome Powell. Key economic indicators, including China’s trade and inflation data along with US jobs data, will also influence price movements.

On the Multi Commodity Exchange (MCX), gold futures gained Rs 958, or 0.74 per cent, this week — outperforming international benchmarks. The rally in domestic prices has been sharper due to the rupee touching 90 against the US dollar, making imported gold costlier.

Experts believe the upward momentum in gold could continue, helped by expectations of a rate cut, sustained central bank buying, and increased fund inflows. In global markets, however, Comex gold futures eased by USD 11.9, or 0.28 per cent, during the week.

Silver, meanwhile, extended its strong run, driven by robust industrial demand and tight supplies. MCX silver futures jumped by Rs 8,427, or 4.81 per cent, over the week. On Friday alone, the metal surged by nearly 4 per cent to hit a record Rs 1,85,234 per kg.

Analysts said the market is now consolidating at higher levels after weeks of sharp gains, with traders using intraday spikes in silver as opportunities to book profits. Overseas, Comex silver futures climbed 3.30 per cent during the week and hit a lifetime high of USD 59.90 per ounce on Friday.

Experts added that silver could potentially move towards Rs 2,00,000–2,25,000 per kg in the short term if current momentum continues. The coming week is expected to be crucial for both gold and silver as traders respond to Fed policy signals, global macroeconomic cues, and the rupee’s trajectory.