Gold price prediction: What's the gold rate outlook for June 23, 2025 week amidst Israel-Iran conflict - should you buy or sell?
Gold price prediction today: Gold is in focus with heightened geopolitical tensions between Iran and Israel and with the US bombing nuclear facilities in Iran. Will gold prices resume a conclusive upward trend amidst growing global uncertainties?
Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial services Ltd shares his outlook on gold prices and strategy for gold investors:
Gold prices remained volatile throughout last week, hovering around the ₹1 lakh mark domestically, as geopolitical tensions between Israel and Iran escalated, boosting safe-haven demand.
Despite this, gold's upward momentum was capped by a firm dollar, which was hovering slightly below 100. Investors are closely monitoring the US Federal Reserve's policy stance after it left interest rates unchanged while signalling a more gradual rate cut path ahead. Fed Chair Jerome Powell emphasized caution, citing stable unemployment and expectations of rising inflation due to tariffs. Markets are pricing in rate cuts totalling 50 bps in 2025, but less aggressive easing for 2026–27.
Meanwhile, US data revealed weaker-than-expected retail sales and industrial production, indicating potential economic softness, though jobless claims were lower, suggesting resilience in the labor market. Market participants now await Powell's upcoming testimony and key economic indicators including preliminary PMIs, GDP, consumer confidence, and the PCE price index.
In global developments, China's central bank held steady on its loan prime rates, adding pressure to industrial metals. Domestically, silver saw some profit booking from all-time highs. Despite tensions and US intervention in the Iran-Israel conflict, Iran' s stance on Strait of Hormus is very important for further direction in the market.
Stance On Gold: Sideways to positive:
Support Rs 97,000 - Rs 98,000; Resistance: Rs 100,000 - Rs 100,100
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
The Hindu
an hour ago
- The Hindu
Iranian President Pezeshkian in Pakistan to strengthen bilateral ties
Iranian President Masoud Pezeshkian arrived in Pakistan on Saturday (August 2, 2025) on a two-day state visit aimed at strengthening ties and increasing bilateral trade volume to $10 billion annually. Prime Minister Shehbaz Sharif, Deputy Prime Minister Ishaq Dar, and Information Minister Attaullah Tarar and other high-ranking government officials warmly received the Iranian President at Noor Khan Air Base. A 21-gun salute was also presented to the visiting dignitary. President Pezeshkian is accompanied by a high-level delegation, including Foreign Minister Abbas Araghchi, senior ministers, and other high-ranking officials. Speaking before departure from Tehran, Mr. Pezeshkian said Iran and Pakistan have always maintained 'good, sincere, and deep relations' and plan to increase bilateral trade volume to $10 billion annually, Iran's state-run Press TV reported. 'Through Pakistan, we can connect to the Silk Road between China and Pakistan, and this road can connect to Europe through Iran,' he said. 'In Islamabad, Mr. Dar, who is also the foreign minister, met his Iranian counterpart Mr. Araghchi, and the two leaders discussed various issues,' state-run PTV said. 'The two leaders reaffirmed their commitment to strengthening Pakistan-Iran ties, with a focus on expanding cooperation in regional stability, trade, and economic collaboration. They also discussed enhancing bilateral engagement across key areas of mutual interest,' the Foreign Office (FO) said in a post on X. Main meetings of the Iranian president are scheduled for Sunday (August 3, 2025). President Pezeshkian will meet with Pakistan President Asif Ali Zardari and hold delegation-level talks with Prime Minister Sharif. Earlier in the morning, former prime minister Nawaz Sharif, Punjab Chief Minister Maryam Nawaz and Federal Housing Minister Raiz Hussain Pirzada received Mr. Pezeshkian on arrival in Lahore, the Foreign Office (FO) said. During his brief stay in Lahore, he had a meeting with Nawaz Sharif. President Pezeshkian also visited the mausoleum of poet Allama Iqbal, who is still popular in Iran due to his Persian poetry. This marks Mr. Pezeshkian's first official visit to Pakistan as President of Iran. 'The visit is expected to further strengthen the brotherly relations between Pakistan and Iran,' the FO added. Prime Minister Sharif had visited Iran on May 26.
News18
2 hours ago
- News18
Iranian President Pezeshkian in Pakistan to strengthen bilateral ties
Islamabad, Aug 2 (PTI) Iranian President Masoud Pezeshkian arrived in Pakistan on Saturday on a two-day state visit aimed at strengthening ties and increasing bilateral trade volume to USD 10 billion annually. Prime Minister Shehbaz Sharif, Deputy Prime Minister Ishaq Dar, and Information Minister Attaullah Tarar and other high-ranking government officials warmly received the Iranian President at Noor Khan Air Base. A 21-gun salute was also presented to the visiting dignitary. President Pezeshkian is accompanied by a high-level delegation, including Foreign Minister Abbas Araghchi, senior ministers, and other high-ranking officials. Speaking before departure from Tehran, Pezeshkian said Iran and Pakistan have always maintained 'good, sincere, and deep relations" and plan to increase bilateral trade volume to USD 10 billion annually, Iran's state-run Press TV reported. 'Through Pakistan, we can connect to the Silk Road between China and Pakistan, and this road can connect to Europe through Iran," he said. In Islamabad, Dar, who is also the foreign minister, met his Iranian counterpart Araghchi and the two leaders discussed various issues, state-run PTV said. 'The two leaders reaffirmed their commitment to strengthening Pakistan-Iran ties, with a focus on expanding cooperation in regional stability, trade, and economic collaboration. They also discussed enhancing bilateral engagement across key areas of mutual interest," the Foreign Office (FO) said in a post on X. Main meetings of the Iranian president are scheduled for Sunday. President Pezeshkian will meet with Pakistan President Asif Ali Zardari and hold delegation-level talks with Prime Minister Sharif. Earlier in the morning, former prime minister Nawaz Sharif, Punjab Chief Minister Maryam Nawaz and Federal Housing Minister Raiz Hussain Pirzada received Pezeshkian on arrival in Lahore, the Foreign Office said. During his brief stay in Lahore, he had a meeting with Nawaz Sharif. President Pezeshkian also visited the mausoleum of poet Allama Iqbal, who is still popular in Iran due to his Persian poetry. This marks Pezeshkian's first official visit to Pakistan as President of Iran. 'The visit is expected to further strengthen the brotherly relations between Pakistan and Iran," the FO added. Prime Minister Sharif had visited Iran on May 26. PTI SH RD NPK GSP view comments First Published: August 02, 2025, 23:00 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Mint
17 hours ago
- Mint
The week in charts: Trump's 25% India tariff, TCS's mass layoffs, oil on the boil
The US has imposed 25% tariffs on Indian exports and threatened penalties for buying oil from Russia. Meanwhile, Tata Consultancy Services has announced plans to lay off staff worldwide, and a new report highlights the struggles of women in India's blue- and grey-collar workforce. What's a little tariff between friends? US President Donald Trump imposed a 25% tariff on "friend" India and additional penalties for buying Russian oil from 1 August even as the two countries negotiate a trade deal. While there is little clarity on the impact of the new tariffs and penalties, the move has for now put India at a disadvantage to other countries that have struck trade deals with the US, with their tariffs ranging from 10-20%. India has so far refused to concede to the US's demand for greater access to its agriculture and dairy sectors. Crude awakening The US's latest threats of secondary sanctions on Russia, or more precisely its energy trade, has led to a sharp rise in oil prices. After hovering around $70 per barrel since the Israel-Iran ceasefire, Brent crude oil prices jumped to nearly $73 per barrel on Wednesday, following Trump's threats. The US also sanctioned 20 entities, including six from India, for petroleum, petroleum products and petrochemical trade with Iran. Even as the Organization of the Petroleum Exporting Countries (Opec) is expected to increase output, policy uncertainties will keep oil prices volatile. TCS's payroll purge 12,000: That's the the number of employees TCS plans to lay off worldwide, as Mint reported. The layoffs, comprising around 2% of its workforce, will mostly affect mid- and senior-level staff. India's largest IT firm said the move was part of its strategy to become a 'future-ready organisation', focusing on AI, tech investment, and workforce realignment. This has sparked worries of similar moves by other IT giants also facing uncertainty in their biggest market, the US. Global economy shows grit Lower-than-expected trade disruptions led to a more optimistic global growth forecast from the International Monetary Fund (IMF) earlier this week. The agency raised its 2025 global growth projection to 3% from 2.8% in April, along with a broader upgrade from the US, EU, China to India. While the IMF cited stronger front-loading of trade, lower effective US tariffs, and improved financial conditions as key drivers in the first half of the year, it also said the risks to projections remained tilted to the downside. We work, we list India's coworking sector is in expansion mode, with Awfis, Smartworks, and IndiQube now listed, and WeWork India expected to go public in August. Riding a post-covid boom, the industry has scaled rapidly, with flexible office supply in top cities expected to rise to 121 million sq ft by FY2027 from 85 million sq ft in FY25, an analysis by showed. As their business models are maturing, they are seeing strong revenue. However, despite strong operational margins, high upfront capital costs and depreciation continue to weigh on their profitability. Tata Motors spends a truckload $4.36 billion: That's the amount for which Tata Motors Ltd will acquire Italian truck and bus maker Iveco, its largest acquisition ever, amid plans to demerge its commercial and passenger vehicle business. The auto company is looking to boost its commercial vehicle business with the acquisition, which is expected to conclude by April-June 2026. For Tata Motors, the commercial vehicles business is the second-largest revenue contributor, with a 17% share in FY25. The company had acquired Jaguar Land Rover in 2008 for $2.3 billion. Giants claw back profit share India's markets are dominated by large firms, with the top 10% by revenue accounting for more than 90% of net profits. This began changing after the pandemic as smaller firms gained ground during a broader recovery. But this comeback is now running out of steam. In FY25, companies outside the top 10% made up 7.3% of aggregate net profit, down from 10.4% in FY23, a Mint analysis of 5,096 BSE-listed firms showed. Still, their performance was better than in pre-covid era, underlining their resilience. Chart of the week: Women's barriers to work Low income, poor work culture and safety fears are among the top reasons why women have shorter tenures in India's blue- and grey-collar jobs, according to a new survey report by the Udaiti Foundation and Quess Corp. Despite the growing numbers of women workers, more than half of respondents said they planned to leave the workforce within a year. Follow our data stories on the In Charts and Plain Facts pages.
