The rising dollar price, June consumer price data of the United States and future commentary from the US Fed and crude oil prices are likely dictate bullion price this week, according to IBJA. Today’s gold rate trades unchanged; silver barely holds INR 57,000. Economic Times reports gold prices as trading flat, almost unchanged, on Monday as the firm US dollar dented the appeal for the yellow metal. The bullion was pinned near a nine-month low seen last week. Gold marked a fourth straight weekly loss on Friday, having hit its lowest since late September a few sessions prior, hurt by the dollar's ascent and bets for steep interest rate hikes gaining traction after healthy US jobs data. On the Multi-Commodity Exchange (MCX), gold price future ended the previous week at INR 50,810 for 10 grams, logging over 2 per cent weekly loss. The US dollar had cooled down from two-decade highs, taking some weight off the safe-haven metal.

News18 advises caution to investors of gold, “Brace yourself for another bumpy week. The bullion will remain under pressure in the next few days as investors will keenly follow the inflation numbers of the United States, scheduled on July 13.” The key factors that would likely dictate bullion price this week include the rising dollar price, June consumer price data of the United States and future commentary from the United States Federal Reserve and crude oil prices.