Gold price prediction today: Where are gold rates headed on June 3, 2025 and in the near-term?
Considering the ongoing US-China tension and weakness in the US Dollar Index, it is advisable to buy the dips with stoploss below $3,325/$3300. (AI image)
Gold price prediction today: Gold rates have shown considerable volatility recently, without establishing a definitive trend in either direction. International developments, particularly the trade tariff decisions by Donald Trump and ongoing geopolitical tensions, continue to influence daily gold prices.
Given these unpredictable circumstances, investors face uncertainty about their investment strategies. What's the outlook on gold prices in the near term?
Praveen Singh, Senior Fundamental Research Analyst- Currencies and Commodities at Mirae Asset Sharekhan shares his views:
Gold Performance:
Following a weekly loss of 2.02% in the week ending May 30, spot gold prices are sharply higher this week due to renewed safe haven demand as US-China and other geopolitical concerns come to the fore.
On Monday, China accused the US of violating the US-China trade truce as the US imposed further chip technology curbs. Last week, the US said that it will revoke visas for Chinese students who relate to the Chinese Communist Party or are studying in critical fields. The US Administration also barred the export of critical US jet engine parts and technology to China. It plans to broaden restrictions on China's tech sector with new regulations to capture subsidiaries of companies under US curbs as well.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
New Container Houses Morocco (Prices May Surprise You)
Container House | Search Ads
Search Now
Undo
China's slow approval for rare earth exports is being cited as the cause behind US's actions against China.
Gold Data roundup:
US data released Monday were slightly weaker than expected. ISM manufacturing came in at 48.50 Vs the forecast of 49.50 as the manufacturing sector contracted for the third straight month on tariff uncertainties. ISM's Import component slumped to a 16-year low, while the export gauge fell to the lowest level in five years.
Contraction spending in April contracted by 0.4% as against the forecast of a 0.2% expansion.
The Eurozone's manufacturing PMI (May) at 49.40 matched the estimate in its final reading, while the UK's manufacturing PMI at 46.40 beat the estimate of 45.10.
Gold ETF:
Total known global gold ETF holdings stood at 88.508Moz as of May 30. Holdings recorded first weekly inflow after five straight weeks of outflows as holdings are up 6.82% YTD.
Upcoming data and events:
The European Central Bank will deliver its monetary policy on June 5 wherein the Central Bank is expected to cut the key rates by 25 bps-- its eighth rate cut since the Bank embarked on its rate cutting spree in June 2024.
Major US data to be released ahead in this week include JOLTs job openings (April), ADP employment change (May), ISM Services (May), trade balance (April) and nonfarm payroll (May).
Investors will also monitor China's manufacturing and services PMIs (May) and Europe's services PMIs (May).
Geopolitical watch:
The Security Service of Ukraine (SBU) carried out a massive drone attack deep inside Russia on June 1, which reportedly hit 41 Russian aircrafts. Both the countries concluded their latest peace talks in Istanbul on June 2; however, peace prospects remain dim.
US Dollar Index and yields:
At the time of writing, the US Dollar Index was at 98.71, down nearly 0.60% on the day, lowest since April 2022 barring April 2024 --reciprocal tariff sell-off period.
Big investments cutting their Dollar Index forecasts is also weighing on the Greenback.
Ten-year US yields and 30-year US yields respectively at 4.44% and 4.9781% were up by 0.90% on the day.
Gold price Outlook:
A close above $3,372 will be quite positive for the metal. Considering the ongoing US-China tension and weakness in the US Dollar Index, it is advisable to buy the dips with stop loss below $3,325/$3300.
Worsening geopolitical situation and further weakness in the US Dollar Index may help the yellow metal test the psychological resistance at $3400, followed by possible tests of next resistance levels at $3414/$3435. Traders need to monitor the evolving China-US trade situation to minimize their risks.
Stay informed with the latest
business
news, updates on
bank holidays
and
public holidays
.
AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indian Express
24 minutes ago
- Indian Express
Defence equipment, oil, cars: Where India could lower tariffs to reach deal with US
With US trade negotiators set to reach India Thursday for a two-day visit, the India-US trade deal negotiations are entering their final stage and could soon see Delhi opening its market and lowering tariffs on a range of American products – from select agricultural goods to defence equipment. This is in exchange for concessions on reciprocal tariffs and improved access to the US market for India's labour-intensive sectors such as textile and leather products. The White House said Tuesday that the US had asked countries to make their best offers on trade negotiations by Wednesday, as the July 8 deadline for reciprocal tariffs is just five weeks away. 'I can confirm the merits and the content of the letter. The United States Trade Representative (USTR) sent this letter to all of our trading partners just to give them a friendly reminder that the deadline is coming up,' White House spokesperson Karoline Leavitt said. Improving market access for US exports such as oil, armaments, soybeans, corn, whisky and automobiles could help address Washington's concerns over its goods trade deficit with India and high tariff barriers. US Secretary of Commerce Howard Lutnick said Tuesday that the US aimed to bring back advanced manufacturing and bridge the trade deficit by increasing exports to India, adding that both sides had 'found a place that really works' for them. Indian officials have indicated that diversifying oil and defence procurement is in the country's strategic interest and sourcing more from the US could also significantly help bridge the goods trade gap, as India's refining capacity has been increasing alongside oil import dependency, which surged to 90 per cent in April 2025. India's oil import mix has already undergone a significant shift since the Ukraine war, with Russia emerging as the top supplier, replacing Iraq and Saudi Arabia. Official trade data showed that India had already stepped up oil purchases from the US. India's import of crude oil from the US jumped 11.49 per cent to $63 billion in March 2025 compared to the previous year. India has had long standing defence ties with Russia, owing to its reliability during times when Western countries imposed sanctions. However, the US now appears to be leveraging its position as the world's largest market to boost defence equipment exports to India and reduce Delhi's dependence on Russia. Speaking at the US-India Strategic Partnership Forum (USISPF) in Washington DC, Lutnick said: 'There were certain things that the Indian government did that generally rubbed the United States the wrong way. For instance, they generally buy military gear from Russia. That's a way to kind of get under the skin of America, if you go to buy your armaments from Russia.' He said India is already 'addressing' this issue. According to the Stockholm International Peace Research Institute (SIPRI), the largest share of India's arms imports between 2020 and 2024 still came from Russia at about 36 per cent. However, this was significantly lower than the 55 per cent recorded in 2015-19 and 72 per cent in 2010-14. SIPRI's report released in March suggested that India has increased domestic manufacturing and is shifting its arms supply relations towards Western suppliers – most notably France, Israel and the US – at a time when Russia is prioritising domestic production amid the ongoing Ukraine war. US arms exports grew by 21 per cent between 2015-19 and 2020-24. The US share of global arms exports rose from 35 per cent to 43 per cent – nearly equal to the combined total of the next eight largest exporters, according to SIPRI. From high tariffs on agricultural imports to restrictions on genetically modified (GM) seeds and products, the US has criticised several Indian trade policies that have limited US exports. Under the new trade agreements, the US is seeking increased market access for its agricultural products, especially soya and corn – two of its top export items to China. Amid the likelihood of a protracted trade tussle with China, the US deal with India is likely to ensure greater market access for these two products. Additionally, the US may also secure improved access for its apples. A NITI Aayog working paper in May stated that India could offer some concessions on 'soybean oil imports' to reduce the trade imbalance, without harming domestic production. India is the largest importer of edible oil globally, and the US has a surplus of soybean exports. 'We should also explore the option of importing soybean seed and using it for extracting oil in coastal areas, then selling the oil in the domestic market and exporting the meal, for which there is adequate overseas demand. This will avoid genetically modified (GM) feed entering the Indian market,' the paper, authored by Senior Adviser at NITI Aayog Raka Saxena and Member Ramesh Chand, said. 'Similarly, corn may be imported for ethanol blending, and its by-products – like Distiller's Dried Grains with Solubles (DDGS) – can be entirely exported to avoid GM feed in the country. US corn is cheaper and can be used to meet India's biofuel targets without disrupting local food and feed markets,' it said. Notably, soybeans and corn are among the top exports of US to China and according to a Reuters report, US soybean exports could drop 20 per cent and prices may plunge if the US-China trade dispute remains unresolved. If the trade agreement with the UK is any indication, India is likely to open its highly protected automobile and alcoholic beverage sectors to the US, its largest trade partner. Even before negotiations with the US began, India slashed duties on bourbon whisky to 50 per cent from the earlier 150 per cent. Bourbon whisky is primarily produced in the US, with about 95 per cent made in Kentucky. Under the UK deal, India cut tariffs on automotive imports from over 100 per cent to 10 per cent – although the reduction is phased over 10 to 15 years. A similar, if not more favourable, deal could be offered to the US. President Donald Trump had previously stated that high tariffs in India made it difficult for companies like Harley-Davidson to operate in the country.
Time of India
30 minutes ago
- Time of India
Libra Daily Horoscope Today, June 05, 2025: A small sign brings big insight
Today, something unexpected—a word, a dream, or even a random message—might hold deep meaning. Pay attention. Life is gently showing you something you've been missing. This moment may feel small, but it brings big clarity. Don't brush it aside. You've been seeking direction, and now it arrives quietly. Trust the message that shows up when your heart is still. A meaningful coincidence is not an accident—it's guidance. Let this sign help you make a decision or feel more certain about your path. Libra Love Horoscope Today In love, you may receive an emotional signal—a look, a gesture, or a silence—that says more than words. If in a relationship, be present and open. Your partner may be expressing something without directly saying it. If single, someone may give a subtle but kind message of interest. Notice what is not loud. True feelings are often whispered. Let love show itself in simple ways. A soft smile, an old memory, or even a shared silence can deepen your connection today. Libra Career Horoscope Today At work, you may come across a detail or coincidence that shifts your view. Maybe it's a task you've done before, a name you hear again, or a comment that feels relevant. Don't ignore these soft nudges—they carry direction. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 2025 Top Trending local enterprise accounting software [Click Here] Esseps Learn More Undo If stuck, step back and watch. Sometimes clarity comes not from more effort, but from a sign that confirms your doubt or hope. A mentor or colleague may say something today that guides you more than they know. Let insight shape your move. Libra Money Horoscope Today Financially, you may come across a piece of advice or a financial tip that sounds familiar—but today, it lands differently. Don't ignore it. Maybe someone repeats something you once heard. Maybe you find an old paper or reminder. That's your sign to act or review. Even if the step is small—like saving slightly more, cancelling an expense, or reviewing an old plan—it will have strong effect. Money wisdom sometimes comes in soft ways. Notice it and act gently but firmly. Libra Health Horoscope Today Health today may benefit from slowing down enough to notice your own patterns. Maybe your body reacts at a certain time or after a specific food—but you ignored it. Today, that pattern might repeat. Don't see it as a problem—see it as a message. A small shift in sleep, food, or routine can prevent a bigger issue. Trust your instincts. They are trying to speak. Healing comes not from force today, but from paying attention to what your body is showing you. Discover everything about astrology at the Times of India , including daily horoscopes for Aries , Taurus , Gemini , Cancer , Leo , Virgo , Libra , Scorpio , Sagittarius , Capricorn , Aquarius , and Pisces .
Time of India
an hour ago
- Time of India
Uttarakhand cabinet clears 4 Badrinath projects; tax rebate for CNG, EV vehicles
Dehradun: The Uttarakhand cabinet on Wednesday approved 12 proposals, including four related to development projects in Badrinath and a tax exemption for CNG and electric vehicles. Secretary Shailesh Bagauli said permission was granted for creating Sudarshan Chakra and Sheshnetra Lotus wall artworks at prominent Badrinath locations, including Arrival Plaza and Lakefront. Another decision pertains to the construction and installation of the Tree and River Sculpture at Badrinarayan Chowk. In a major green push, the cabinet has amended the tax structure for certain categories of eco-friendly vehicles. Under a notification dated Jan 2, 2019, issued under the Uttarakhand Motor Vehicle Taxation Reform Act, 2003, one-time tax rates were specified for vehicles powered by electric batteries, solar energy, or CNG. The cabinet has now decided to extend this exemption to plug-in hybrid electric vehicles and strong hybrid electric vehicles under the new Rule 125 "M" of the Central Motor Vehicle (Ninth Amendment) Rules, 2023. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Nejapa: Invierte $100 en AES CFD [Lee más] ofertas especiales Contáctanos Undo "The purpose of this decision is to encourage vehicle owners to purchase and use these categories of vehicles and to reduce pollution," said Bagauli. The tax exemption will be applicable only once during the financial year 2025–26. To streamline recruitment processes for Group-C positions outside the purview of the Uttarakhand Public Service Commission, the state had earlier established the Uttarakhand Subordinate Service Selection Commission, creating a framework of 64 temporary positions—of which 62 were created, with the remaining two treated as a dying cadre. Given the rising number of requisitions from departments, the cabinet has now approved a restructuring of the commission's framework by creating 15 new positions—one regular and 14 outsourced—on top of the existing 62. In another administrative decision, the cabinet approved the designation of the head of the Uttarakhand Forensic Science Laboratory Department. With the lab now directly under the control of the Home department, the director of the Forensic Science Laboratory will now be officially recorded as the department head in govt records. The cabinet also cleared a proposal to restructure the Uttarakhand Human Rights Commission, which was established in 2011 with 47 positions. The structure has not been revised in over a decade, affecting its functioning. To address operational requirements, 12 new positions will be created. In line with central govt directives, the cabinet approved a proposal to make employees covered under the National Pension Scheme (NPS) eligible for gratuity within the state. To ensure transparency and uniformity in recruitment processes for uniformed positions, the cabinet has approved the promulgation of the Uttarakhand Uniformed Constable Direct Recruitment Selection Process Rules, 2025, and the Uttarakhand Uniformed Sub-Inspector Direct Recruitment Selection Process Rules, 2025. These rules were formulated in consultation with relevant departments and selection bodies to ensure a standardised selection process for constables and sub-inspectors. Also, changes were made to benefit the dependents of deceased environmental workers under the 1974 rules. Under the Clean Mobility Transition Policy, 2024, the transport department had planned to deposit funds for various incentives in an escrow account titled the Uttarakhand Clean Mobility Transition Fund. However, banks raised concerns regarding the opening of such accounts. As per a finance department order dated July 5, 2023, budgetary grants must be deposited in Single Nodal Agency (SNA) accounts integrated with IFMS. In view of this, the cabinet has decided to open an SNA account instead of an escrow account for the same fund.
