In the coming week, gold prices will be shaped by developments in the US-Iran peace talks, fluctuations in crude oil rates and a series of macroeconomic data releases. Analysts said speeches from US Federal Reserve officials could also play an important role in shaping interest rate expectations, which in turn could guide the near-term direction of bullion prices.“The momentum of precious metals like gold and silver still seems to be on the uptrend,” Pranav Mer, vice president, EBG – Commodity and Currency Research, JM Financial Services Ltd, told PTI.He further said that the focus will remain on progress in peace talks between the US and Iran, with the ceasefire and negotiations deadline extended for another 60 days. A positive outcome could further weigh on oil and gold prices as safe-haven demand weakens, he said.This week, gold futures on the Multi Commodity Exchange (MCX) closed at Rs 1.55 lakh per 10 grams, down by Rs 3,104 or about 2%. Silver also ended the week down by Rs 4,848 or 1.8% at Rs 2.66 lakh per kg.In foreign trade, gold futures on Comex closed marginally higher at $4,593 an ounce, while silver fell to $75.87 an ounce.According to Mer, gold has been under pressure in recent weeks due to a sharp decline in crude oil prices and a lack of safe-haven demand following reports of progress in US-Iran peace discussions.He said officials from both sides have indicated a preliminary draft of the proposed agreement is still pending approval from US President Donald Trump.Analysts said a strong bounce in global equities, liquidations in exchange-traded funds (ETFs) and lack of fresh bullish triggers limited gains in the precious metals.At the same time, ongoing concerns over persistent inflation are strengthening expectations of a tight stance from major global central banks, limiting the appeal of assets like gold.However, the downward pressure on bullion was partially offset by bargain buying at lower levels, sustained demand amid rising tensions between Russia and Ukraine and a steady US dollar.Analysts further said that as gold and silver enter the new week, investors are keeping a close eye on the health of the US economy and labor market, as the busy schedule of data releases could significantly impact Fed rate expectations.(Disclaimer: The recommendations and views given by experts on the stock market, other asset classes or personal finance management are their own. These opinions do not represent the views of The Times of India)