Market Watch: Gold and Silver Prices Poised for Consolidation During Holiday Season

Gold and silver prices could stabilize next week as investors await key U.S. economic data, influencing global bullion movements. Analysts predict limited trading due to upcoming holidays but warn of potential volatility. Meanwhile, gold hit a record high, while silver continued its impressive rally, despite low trading volumes.

Gold and silver prices may stabilize next week as investors turn their focus on crucial U.S. economic data, including GDP figures. Thin trading volumes typical at the year's end could restrict price movement, analysts suggest.

Market activity is expected to be subdued with many traders remaining absent due to the holiday season, although volatility may increase due to low participation, according to Pranav Mer from JM Financial Services.

The past week saw gold futures rise steadily, while silver continued its robust upward trend, with both metals reaching new highs. Despite this, analysts anticipate near-term corrections due to global economic factors and currency fluctuations.

(With inputs from agencies.)