Gold rate today: Yellow metal jumps on easing US-China tariff tension, soft US dollar rates
Speaking on the reasons fueling gold rates today, Jateen Trivedi, VP Research—Commodity & Currency at LKP Securities, said, 'The lack of clarity and shifting stances from the US on ongoing trade discussions have led market participants to unwind short positions in gold, providing fresh upside momentum. With trade talks showing little concrete progress, safe-haven interest is returning gradually.'
Pointing towards the US-China tariff tension despite ease in US-China trade war, Sugandha Sachdeva, Founder of SS WealthStreet, said, "While US-China relations seem to be improving, lingering uncertainty around a comprehensive resolution suggests some continued safe-haven demand, especially in the near term. However, if trade optimism persists, the medium-term outlook for gold may face headwinds due to reduced risk premium." She said that any negotiations on tariffs between the US and other countries will provide further triggers for the gold price movement.
"Volatility is expected to remain elevated, with gold likely to trade in a broad range of ₹ 92,000 to ₹ 94,500 per 10 gm in the coming sessions," Jateen Trivedi of LKP Securities said.
'Given current market conditions, gold price is likely to remain in a consolidation phase, with near-term support at ₹ 91,700 and resistance around Rs.96,500 per 10 grams,' Sugandha said.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
First Published: 5 May 2025, 09:12 AM IST
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