Analysts see US-Iran Burgenstock talks and crude swings steering bullion prices in the week ahead

The US and Iran are set to hold technical talks in Burgenstock, Switzerland, to implement a previously agreed 60-day framework, while Iran said it had closed the Strait of Hormuz and the US disputed the claim and said shipping remained normal. International gold edged up to USD 4,245.9 per ounce, while silver fell 2.03%. In domestic markets, gold and silver futures posted weekly declines of 2.2% and 5.3%, respectively. Next week’s focus includes PCE inflation data, remarks from Federal Reserve officials and a policy decision by the People’s Bank of China.