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Mint
2 days ago
- Business
- Mint
Gold price outlook: Will yellow metal rise amid dollar-driven volatility? Experts weigh in
Gold price outlook: Gold Futures on India's Multi Commodity Exchange (MCX) closed 0.59 per cent or ₹ 568 lower on Friday, 30 May 2025, amid tepid demand for safe-haven assets and a rising US dollar backed by US economic data. MCX Gold's June contract closed 0.59 per cent lower at ₹ 95,891 per 10 grams after Friday's market session, compared to ₹ 96,459 per 10 grams in the previous commodity market close. Experts anticipate that gold prices in India will trade in a range-bound movement amid ongoing tariff uncertainty and rising dollar-driven volatility. Global gold investors will be looking out for key data like the U.S. labour data, global PMIs, and central bank decisions, including those of the European Central Bank (ECB) and the Reserve Bank of India (RBI). Bloomberg US Dollar Spot Index was up 0.05 per cent at 99.329 as of 12:00 a.m. (EDT) on Friday, 30 May 2025. The demand for safe-haven assets like gold ranges along with geopolitical tensions, as investors tend to withdraw their money from gold and switch to high-risk assets after a positive economic development. Jigar Trivedi, Senior Research Analyst at Reliance Securities, said that the precious yellow metal lost some ground after the strong US economic data release dampened demand for safe-haven gold and stabilised the US dollar last week. The US greenback steadied at 99.4 levels on Friday, 30 May 2025, after its fifth consecutive decline, amid aggressive trade policies that could undermine the dollar's appeal. The commodity market expert estimated that Comex gold will find support at ₹ 3,260 per ounce and resistance near the $3,400 level per ounce. Trivedi recommended that investors maintain a cautious sentiment with their focus on U.S. labour data, global PMIs, and other key economic data. 'Gold may see limited downside as the dollar attempts a rebound, but ongoing geopolitical risks and a packed economic calendar could support bullion in the near term. Comex Gold finds support at $3,260/oz, with resistance near $3,400/oz. Market sentiment remains cautious, with attention turning to U.S. labour data, global PMIs, and central bank decisions from the ECB and RBI in the coming week,' said Jigar Trivedi. Jateen Trivedi, VP Research Analyst of Commodity and Currency at LKP Securities, said that gold prices in India in the short term are expected to witness support at near ₹ 94,000, and resistance around the ₹ 97,000 level due to the tariff uncertainty and dollar-driven volatility. 'In the short term, gold remains caught between tariff-related uncertainty and dollar-driven volatility. Traders should expect continued range-bound movement with support near ₹ 94,000 and resistance around ₹ 97,000 in the domestic market,' said Jateen Trivedi. Read all stories by Anubhav Mukherjee Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Time of India
5 days ago
- Business
- Time of India
Gold prices predicted to fall up to Rs 93,000/10 gms. Here's what analysts say
Live Events How to trade gold? Gold has support at Rs 94,800-94,400 and resistance at Rs 95,500-96,000 Silver has support at Rs 96,650-96,000 and resistance at Rs 98,250-99,100 Gold rates in physical markets Gold Price today in Delhi Gold Price today in Mumbai Gold Price today in Chennai Gold Price today in Hyderabad (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Amid a rebound in the dollar index , gold June futures contracts at MCX opened flat at Rs 95,230/10 grams, marginally higher by Rs 87 or 0.09% after the yellow metal settled lower in the previous trading around 11 am, the metal witnessed buying from the lower levels and was trading 0.36% higher at Rs 95,490/10 gm. This is a surge of nearly Rs 350 from its closing price on silver July futures contracts recovered from their day's low on Tuesday and also opened higher by Rs 566 or 0.58% at Rs 98,041/ Tuesday, gold and silver settled on a weaker note in the domestic and international markets. Gold June futures contract settled at Rs 95,143 per 10 grams with a loss of 0.83% and silver July futures contract settled at Rs 97,475 per kilogram with a loss of 0.54%.Gold and silver showed heavy selling pressure in the international markets amid a rebound in the dollar index after the postponement of the trade tariffs by the U.S. President of the European Union. The dollar index recovered from 1-month lows and the U.S. equity markets also gained, easing some safe-haven buying for precious the US Dollar Index, DXY, was hovering near the 99.80 mark, gaining 0.28 or 0.28%.The U.S. durable goods orders data and consumer confidence data released on Tuesday were also better than expected and pushed bullion prices lower. However, the U.S. trade tariff uncertainty and geopolitical tensions could support prices of precious metals at lower levels.'We expect gold and silver prices to remain volatile this week amid volatility in the dollar index, geopolitical tensions and ahead of the FOMC meeting minutes; gold prices could hold its support level of $3,200 per troy ounce and silver prices could also hold $31.80 per troy ounce levels on a weekly closing basis,' said Manoj Kumar Jain of Prithvifinmart Commodity Kumar Jain suggested the following ranges for gold and silver on MCX:Jain suggests buying gold and silver until they hold their key support level of Rs 94,400 and Rs 96,650, respectively, on a closing basis. He further noted that gold could retest Rs 96,000 and silver could also retest Rs 98,250-99,000 levels in the upcoming prices are witnessing volatility due to a lack of triggers. Profit booking is typically witnessed from higher levels on account of easing geopolitical tensions between Israel and Hamas and ongoing tariff relief measures, reducing safe-haven demand.'In the international market, Comex gold is expected to trade in a lower range of $3,250 to $3,325, while the domestic outlook now shifts to Rs 93,000–Rs 96,000,' noted Jateen Trivedi, VP Research Analyst - Commodity and Currency at LKP Gaglani, Senior Research Analyst - Commodities at Axis Securities, echoed a similar sentiment, stating, 'Looking ahead, volatility is expected to remain elevated this week, with key macro triggers including the release of FOMC meeting minutes and prelim U.S. GDP data'.Standard gold (22 carat) prices in Delhi stand at Rs 58,144/8 grams while pure gold (24 carat) prices stand at Rs 62,024/8 gold (22 carat) prices in Mumbai stand at Rs 57,624/8 grams while pure gold (24 carat) prices stand at Rs 61,464/8 gold (22 carat) prices in Chennai stand at Rs 56,928/8 grams while pure gold (24 carat) prices stand at Rs 60,728/8 gold (22 carat) prices in Hyderabad stand at Rs 56,840/8 grams while pure gold (24 carat) prices stand at Rs 60,568/8 grams.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Wall Street Journal
5 days ago
- Business
- Wall Street Journal
Gold Edges Higher on Possible Technical Recovery
2345 GMT — Gold edges higher in the early morning Asian session on a possible technical recovery after front-month Comex gold futures fell 1.9% overnight. However, gold's gains may be capped amid signs of progress in U.S.-EU trade relations. President Trump's recent decision to delay tariffs on EU imports allows additional time for talks, two members of Sucden Financial's research team say in commentary. This delay has helped to ease fears of a near-term escalation and has underpinned risk appetite globally, they add. Spot gold is 0.3% higher at $3,310.06/oz. (
Jordan News
6 days ago
- Business
- Jordan News
Gold Prices Decline as U.S. Dollar Strengthens - Jordan News
Gold prices fell on Tuesday as the U.S. dollar recovered some of its recent losses, while concerns over the U.S. fiscal outlook kept investors cautious about the trajectory of interest rates. اضافة اعلان As of 09:15 Moscow time, August gold futures (Comex) dropped by 1.25% to $3,351.90 per ounce. Meanwhile, spot gold prices declined by 0.61% to $3,323.61 per ounce, according to trading data. Kelvin Wong, Chief Market Analyst for the Asia-Pacific region at OANDA, said: 'At this stage, we are seeing some consolidation in gold prices. The market is taking a breather and waiting for the next catalyst.' He added: 'However, market participants remain concerned about the widening U.S. budget deficit, which continues to support gold prices while simultaneously weakening the dollar.' In the currency market, the U.S. dollar index—which measures the greenback against a basket of major currencies—rose by 0.07% to 99 points. (Bloomberg)
Mint
24-05-2025
- Business
- Mint
Gold price outlook: Is yellow metal poised for a rise amid new tariff war concerns?
Gold price outlook: Gold Futures on India's Multi Commodity Exchange (MCX) closed 0.02 per cent or ₹ 21 lower on Friday, 23 May 2025, after a rally fueled by the renewed trade tensions in the global economy over US President Donald Trump's stance with the European Union tariffs. Gold Futures for the June 2025 contract closed 0.02 per cent lower at ₹ 96,400 per 10 grams as of Friday, 23 May 2025, compared to ₹ 96,421 at the previous commodity market close, according to the data collected from MCX. Gold prices in India and the US-based Comex gold rates jumped as investors' tensions renewed over US President Donald Trump's proposal of a 50 per cent tariff on imports from the European Union starting 1 June 2025. Trump also threatened Apple that the federal government would impose a minimum of 25 per cent tariffs if the iPhone maker fails to relocate smartphone production to the United States. In times of uncertainty, investors pull their money out of high-risk assets like equity and derivatives markets in search of safe-haven investments like government treasuries and gold. Commodity experts are eyeing a 'bullish' outlook for the precious yellow metal with key economic indicators like the looming trade tensions and the ongoing trade war between the United States and other world nations. Jigar Trivedi, Senior Research Analyst at Reliance Securities, expects the rise in gold prices to continue into the month of June 2025, with key drivers like the U.S. credit downgrade, continued Chinese central bank gold purchases, trade tensions, recession fears, and robust safe-haven demand in focus for the precious yellow metal. 'The uptrend in gold appears poised to continue into June. A break below $3,100/oz looks increasingly unlikely,' said the commodities market expert. 'Looking ahead, markets will closely watch next week's U.S. economic data releases, including consumer confidence, Q1 GDP (preliminary), and minutes from the most recent Federal Reserve meeting. While any progress in U.S.-Iran nuclear negotiations could offer temporary relief to risk assets, gold may continue to attract safe-haven inflows. The SPDR Gold ETF remains a key barometer for institutional sentiment. In the near term, Comex gold prices could test the $3,380–$3,430/oz range,' said Trivedi. Colin Shah, the Managing Director of Kama Jewelry, said that the gold prices were volatile last week due to the weakening US Dollar and the rising tensions about the fiscal outlook of the United States. 'Moving forward to next week, the outlook for gold remains bullish with a possibility for a potential short-term correction. International Prices are expected to trade in the range of $3300-3400/Oz, supported by ongoing geopolitical tensions and an uncertain outlook over US fiscal policies, signalling economic instability in the biggest economy of the world,' he said. The precious yellow metal is likely to hover in the range of ₹ 95,000 to ₹ 96,000 per 10 grams for the upcoming week. 'Domestic Prices can hover in the range of ₹ 95,000-96,000/10 gms. For silver, prices may remain relatively stable, unless any major economic development takes precedence,' said Shah. Read all stories by Anubhav Mukherjee Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary.
