Gold Price Prediction: Will Gold Hit Rs 1,10,000 Per 10 grams? Here's What Experts Say
Gold and silver saw sharp volatility on Thursday, initially falling after a US Federal Court blocked Trump's tariff plan; Good time to invest?
Gold Price Prediction: Investors booked profits in gold on Friday, May 30, as June MCX gold futures opened lower by Rs 592, or 0.62%, at Rs 94,797 per 10 grams, amid concerns about Trump-era tariffs and volatile trade. This was despite supportive preliminary GDP data showing an economic contraction, which had earlier boosted gold's safe-haven appeal.
Analysts remain bullish on gold, projecting a potential rise to Rs 1,10,000 per 10 grams within a year, citing gold's consistent track record of delivering solid long-term returns.
On Thursday, gold and silver futures closed higher in domestic and global markets. Gold June futures settled at Rs 95,389/10g with a 0.12% gain, and silver July futures at Rs 97,826/kg, up 0.59%.
However, on Friday, silver July futures at MCX also opened lower by Rs 884, or 0.9%, at Rs 96,942/kg.
Gold and silver saw sharp volatility on Thursday, initially falling after a US Federal Court blocked Trump's tariff plan. However, prices recovered after President Trump announced plans to appeal the ruling. Meanwhile, the dollar index slipped as US jobless claims rose more than expected, lending support to bullion prices.
Currently, the US Dollar Index (DXY) is hovering near 99.44, up 0.16%.
US jobless claims increased last week to 240,000, higher than expectations of 229,000. Preliminary GDP data also signaled contraction, adding to gold's safe-haven demand.
Manoj Kumar Jain of Prithvifinmart Commodity Research expects gold and silver prices to remain volatile, driven by dollar index fluctuations, geopolitical tensions, and key US data releases. 'Gold could hold support at $3,250/oz and silver at $32.80/oz on a weekly closing basis," he said.
Rahul Kalantri, VP Commodities at Mehta Equities Ltd., noted that while gold plunged initially after the US court ruling, prices bounced back amid growing economic concerns. 'Gold has support at $3,274-3,255 and resistance at $3,322-3,340; silver's support is at $32.82-32.65 and resistance at $33.35-33.55," Kalantri said. In INR terms, gold has support at Rs 94,910-94,580 and resistance at Rs 95,750-95,940. Silver's support is at Rs 96,480-95,750, with resistance at Rs 97,950-98,750.
Trading Strategy
Manoj Kumar Jain suggests:
Gold price prediction
Angel One expects gold to continue delivering strong returns, projecting a price of $4,000/oz internationally and Rs 1,10,000/10g domestically within a year. They suggest accumulating around Rs 85,000/10g for long-term investment.
First Published:
May 30, 2025, 14:06 IST
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India.com
6 minutes ago
- India.com
FMCG stock Krishival Foods in focus as company to fix record date on August 25
यह प्रयोग वायरल हो गया Shares of FMCG company Krishival Foods are in focus today, August 19, 2025, as the company has informed exchanges that the meeting of the board of directors of the company is scheduled to be held on Monday, August 25, 2025. During the meeting, the board will fix the record date for the declaration of a dividend. The stock started the trading session at Rs 390 against the previous close of Rs 388.50 on the BSE. It later jumped to touch a high of Rs 392. This is a gain of 0.90 from the closing price of the last trading session. On the NSE, the counter opened flat at Rs 388 and touched the intraday high and low of Rs 392 and 375, respectively. The market cap of the company stood at Rs 847.22 crore. Technically, Krishival Foods is trading higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages. Earlier, the company, which specialises in premium nuts, dried fruits, and ice cream, informed exchanges that its board of directors approved the investment in Hamma Foods Private Limited and BVK Foods Private Limited. The investment was made through its subsidiary company by subscribing to 49 per cent of the total paid-up share capital. The stock has given a multibagger return of 279 per cent in five years and has gained 68 per cent in one year. It has surged over 50 per cent so far this year. However, the stock has corrected by 4.71 per cent in the last month. Meanwhile, equity benchmark indices climbed in early trade on Tuesday, extending their previous day's gap-up opening. The 30-share BSE Sensex climbed 203.44 points to 81,477.19 in early trade. The 50-share NSE Nifty went up by 53.4 points to 24,930.35. From the Sensex firms, Reliance Industries, Bharti Airtel, Adani Ports, NTPC, Titan and Infosys were the major gainers. However, Bajaj Finance, Bharat Electronics, Mahindra & Mahindra and HCL Tech were among the laggards.
&w=3840&q=100)
Business Standard
6 minutes ago
- Business Standard
Student arrivals to US continue to fall, declines from Asia most pronounced
Visitors to the US arriving on student visas plunged in July, falling year-on-year for a fourth straight month. The declines were most pronounced from Asia, the largest international education market, as the Trump administration's immigration policies created bottlenecks and a chilling effect on prospective students. Total arrivals on student visas decreased 28 per cent to just under 79,000, the biggest monthly drop so far this year, data from the International Trade Administration show. Student arrivals from India plummeted 46 per cent while China posted a 26 per cent decline. The twin drops from the two largest sources of foreign students provides a grim snapshot that threatens to disrupt the financial models of US colleges and universities. US universities have already warned that first-time foreign student enrollment on campuses are projected to fall by about 30 per cent this fall, potentially costing the education sector $2.6 billion in tuition revenue. The sharp downturn follows a series of policy changes and administrative hurdles from the White House around tightening immigration and foreign student scrutiny. The measures have created a climate of uncertainty and resulted in significant backlogs and delays at US embassies and consulates in key Asian markets. 'There are real reasons for concern,' said Zuzana Cepla Wootson, deputy director of federal policy at the Presidents' Alliance on Higher Education and Immigration, whose members are university leaders. 'It's part of a broader pattern under this administration. The travel ban, expanded screening processes, appointment backlogs — all these create uncertainty for students from China, India and beyond.' The Trump administration announced a pause in interviews for student visas in late May. In mid June, the State Department said it would resume interviews, while also ordering reviews of applicants' social-media profiles. The timing of these policies, during the peak summer visa application season, has been particularly damaging and doesn't bode well for student arrivals in August, which historically is the peak month for new students entering the US. The visitor arrival figures don't break down whether those coming in are new or returning students. Many already on student visas may have chosen to stay in the US and not travel this summer due to the administration's scrutiny of international scholars, Wootson said. Officials at schools with large Asian student populations, such as the University of Southern California, have said that that a continued decline could result in tens of millions of dollars in lost revenue. USC already faces a deficit of $200 million. Arizona State University President Michael Crow meanwhile said visa delays have been more disruptive than the pandemic. A record 1.1 million international students enrolled in US higher education institutions in the 2023-24 school year, according to Open Doors, which collects data on foreign scholars. India was the top country, with nearly 332,000 students, followed by China with about 277,000 that academic year.
&w=3840&q=100)
First Post
6 minutes ago
- First Post
President Trump's gain is America's loss: The high cost of Trumpian diplomacy
President Donald Trump seems to have gained a lot from his way of conducting American foreign policy from the very inception of his second term in office in January 2025. But has the US gained anything out of the Trumpian method of conducting diplomacy? What are Trump's private gains then? First of all, Trump's self-image and his belief that he can run the country's policy towards the rest of the world like an emperor towards his subjects are yet to rupture. No major power in the world appears equipped to confront him directly. Any country that has attempted to do so has remained ineffective. Many powerful countries rather have tried to massage his ego in very many ways. For example, President Vladimir Putin, despite his diplomatic victory in the Alaska summit, went to the extent of admitting that if Trump had been in power, there would not have been the Ukraine War! It was music to Trump's ears and made Trump forget his resolve to make Russia face 'severe consequences' if Putin did not sign on to a ceasefire agreement. STORY CONTINUES BELOW THIS AD Second, despite Trump's now-on-then-off tariff policy that has not been based on sound economics but on flimsy grounds, countries around the world are struggling hard to somehow negotiate with him and conclude 'deals'. He imposed high tariffs on Mexico because that country did not do enough to stop illegal immigrants from entering US territory and failed to prevent fentanyl imports into the US. Similar was the argument on high tariffs on imports from Canada. He announced 50 per cent tariffs on Brazilian goods imported into the US, because he did not like the trial of former President Bolsonaro, accused of attempting a coup to stay in power! Trump threatened 25 per cent secondary sanctions on Indian goods because India bought oil from Russia. He did not extend secondary sanctions to European countries who also purchased Russian energy resources, though less in amount in comparison to Indian purchases. He refrained from imposing the same sanctions on China, which buys more Russian oil than India. Worse, he has not imposed any sanctions on Russia, accused of slow-peddling his efforts for a ceasefire agreement. Trump imposed high tariffs on Nato members of Europe, most of them also being members of the European Union, because these countries did not spend enough on defence and contributed more towards the alliance's budget. Similar was the logic to subject Japan and South Korea to high tariffs. He perceived the allies to be getting American protection at a cheaper rate while ripping off the US through trade. Do any of those reasons cited by President Trump for imposing high tariffs make sound economic sense? It is all politics. Third, Trump has so far triumphed, as he seems to be trying to garner as much revenue as possible to offset the budget deficit that will surely and greatly swell due to his pro-rich taxation policy. He hardly cares about its impact on middle-class consumers who supported him during the last election but cannot politically punish him anymore as he is no longer going to contest any election. Trump's tariff policy will sooner or later affect American companies that do import businesses. It will also adversely affect the countries that export goods to the US. STORY CONTINUES BELOW THIS AD In all these, President Trump may benefit, while others lose. When myriad countries are sending their officials and leaders to Washington to strike trade deals, President Trump looks royal, and his king-size appearance satisfies his ego as well. He is also lucky, as forecast by many economists about the dire consequences of his tariff policy on inflation and employment have not yet been demonstrated on the ground. While the current state of the US economy may deteriorate once the high import tariffs begin to bite more severely, Trump appears more focused on the present. His policies may backfire later, but he will have the authority to change course. The unfortunate aspect of Trump's policies is that the victims of his haphazard tariff announcements will not be compensated. And Trump may not lose much financially or otherwise. Fourth, besides his erratic tariff policy, President Trump has given a body blow to foreign assistance schemes to numerous countries by cutting off assistance completely or reducing it substantially. Foreign aid has been a flagship foreign policy tool of the United States for decades. US foreign aid on the surface looks like Santa Claus doling out freebies to various countries, but in reality, it buys the United States immediate strategic benefits and financial gains in the long run. It also consolidates American influence over decision-making in the recipient countries. President Trump may once again gain by saving money that may be of use to deal with the budget deficit and manage his pro-business taxation policy. STORY CONTINUES BELOW THIS AD The political and economic gain for the Trump presidency, however, has negative consequences for the United States. Some of the negative consequences are already discernible. One, the mistrust between the US and the NATO allies has widened a great deal. He succeeded in forcing the NATO allies to contribute more to the alliance by spending more on defence, but has failed to reinforce mutual trust among the allies. The same can be said about US-Japan and US-South Korean bilateral strategic alliances. Two, the Trump Administration spends much less on foreign assistance, but its consequences in terms of reduction of its soft power as well as political influence in numerous aid recipient countries will surely cost the United States very dearly. Three, the durability and intensity of the strategic partnership that the US has built in the last two decades with countries such as India, Vietnam, Indonesia, and many other countries has come under question. Future administrations will need to invest far more in renewing confidence with strategic partners, and yet there is no guarantee of success. Four, most American allies and strategic partners will almost certainly try to recalibrate their policies and de-risk their closer ties with the United States. It will take time, but their intention and the process have already begun. Trump's gain appears to be America's loss. STORY CONTINUES BELOW THIS AD The author is founding chairperson, Kalinga Institute of Indo-Pacific Studies, and editor, India Quarterly. The views expressed in the above piece are personal and solely those of the author. They do not necessarily reflect Firstpost's views.
