Bullion may remain under pressure as markets track US-Iran war, inflation

Bullion prices are likely to remain under pressure next week as investors track developments in the US-Iran conflict, movements in crude oil prices and inflation data for cues on the outlook for interest rates, analysts said. The focus will be on inflation prints from China, the US, Germany, Japan and India. Investors will also closely track speeches by Federal Reserve officials and US employment data. Chinese economic indicators will be important for industrial metals, they added. Geopolitical developments will remain a key driver after US President Donald Trump confirmed fresh military strikes on Iran, while claiming that Washington had made "a lot of progress" in negotiations with Tehran, adding another layer of uncertainty. The domestic commodities market will remain closed during the morning session on Tuesday due to Diwali-Balipratipada. "Gold and silver's momentum remains down as investors will focus on the inflation data from China, the US, Germany, Japan, India, etc along