Precious metals gold and silver may remain under pressure in the coming holiday-shortened week as investors react to developments in peace talks between the United States and Iran, movements in crude oil prices and upcoming decisions from major central banks. Market sentiment is expected to be driven by geopolitical tensions and macroeconomic data, including housing figures, inflation readings, consumer confidence and factory activity from key economies.

The latest policy meeting of the United States central bank, the last to be chaired by Jerome Powell, will be closely watched for signals on interest rates. Decisions from the central banks of Japan, England and the euro area will also influence bullion prices. Analysts said uncertainty over future rate changes and commodity-led inflation could keep gold and silver volatile.

In the previous week, gold and silver prices declined in both domestic and global markets, partly due to profit-booking after recent gains and a stronger dollar. Rising crude oil prices following tensions around the Strait of Hormuz added to market anxiety. While gold may find support at lower levels, it could remain vulnerable if the dollar stays firm and tensions ease, while silver may see sharper swings due to its role as both an industrial and investment metal.