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Time of India
4 days ago
- Business
- Time of India
Gold price prediction today: Where is gold rate headed in the near-term amidst Trump's tariff war? Here's the outlook
Gold price prediction: old direction still remains sideways to slightly positive for the current week. (AI image) Gold price prediction today: Gold rates are likely to maintain a sideways bias with limited upside in the near-term future. Maneesh Sharma, AVP - Commodities & Currencies, Anand Rathi Shares and Stock Brokers shares his views and recommendations for gold investors: Gold prices ended the last week down on a weekly average basis despite the rally seen on Friday in International Spot markets. The rally in prices was seen driven by weaker US job data & tariff fears which weighed on the US Dollar. Meanwhile the rally was short lived as the US Dollar regained positive traction in the current week and recovered a part of Friday's weaker-than-expected US jobs data-inspired losses, acting as a headwind for the yellow metal at higher levels. Apart from this, the prevalent risk-on environment contributed to capping the upside for the safe-haven precious metal this week. The US NFP released last Friday rose by 73,000 in July, versus a 14,000 increase (revised from 147,000) prior, the US Bureau of Labor Statistics (BLS) revealed. This figure came in below the market consensus of 1,10,000. Meanwhile, the US Unemployment Rate ticked higher to 4.2% in July from 4.1% in June, indicating softness in labour demand fuelling short covering moves in gold. With few macro data points lined up in the week, gold direction still remains sideways to slightly positive for the current week. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo Meanwhile, on the physical demand front, India's domestic gold had generated physical buying interest during the last few weeks after a pullback in prices from Rs 1, 00,555 per 10 grams to Rs 97,700 per 10 grams was seen in domestic spot markets in July. Due to the drop in international prices last month, Indian Jewellers were also seen replenishing inventories, eventually offsetting the impact due to rupee depreciation. This is seen as a key indicator for Gold long term bullishness even though the short - term outlook still remains cloudy. Gold Price Outlook Weekly View: Gold: Limited Positive Bias MCX Trading range (Oct futures): Rs 98,700 – 1,02,800 per 10 gm. (CMP Rs 1,00,500 / 10 gm) In the international markets, US Dollar could attract some buyers in the week ahead, as the same seemed to have stalled the post-NFP downfall. This could hold back gold bulls from placing fresh aggressive bets capping the sharp upside from current levels. Traders also look ahead to the US Jobless claims, Consumer Sentiment data & Fed speakers later this week for further direction in prices. Overall Spot gold could likely witness key resistance zones at $ 3,385 – 3,445 per oz (CMP $ 3350) which looks unlikely to be breached on a weekly basis. In the domestic markets uncertainties persisting on US – India tariff front have propelled local currency pairs to trade at new lows since February and could also support the domestic futures prices on MCX in near term as the same is seen holding above key 1 lakh mark per 10 gm since the start of the week. Stay informed with the latest business news, updates on bank holidays and public holidays .
Time of India
16-07-2025
- Business
- Time of India
Gold price prediction today: Where is gold rate headed & will silver outperform the yellow metal? Here's the outlook
Gold price prediction: The yellow metal had surged by more than a quarter this year, hitting a record above $3,500 an ounce in April. (AI image) Gold price prediction today: Gold rates have continued to be relatively range-bound after hitting record highs three months ago. US President Donald Trump's tariff war continues, adding to global uncertainty, yet experts are of the view that trade deals are likely to be finalized in the coming weeks. Silver is expected to continue its bull run in the coming months, and may outperform gold in the long-term. Naveen Mathur, Director - Commodities & Currencies, Anand Rathi Shares and Stock Brokers shares his views and recommendations for gold and silver investors: Gold started the week slightly on a positive note after a marginal increase of 0.6% seen last week. US trading partners continued to navigate the final weeks of negotiations as Trump's patience with talks appeared to wear thin. Rising trade tensions underscored gold's haven appeal, although investors grew increasingly less convinced about the likelihood of widespread upheaval as a trade truce looked likely before the August 1 deadline. The yellow metal had surged by more than a quarter this year, hitting a record above $3,500 an ounce in April, as the US's aggressive and erratic trade policy enhanced its appeal as a store of value in uncertain times. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo However, the rally has stalled over the last three months as investors wait for more clarity on the eventual contours of the new trade system, and on signs they're hesitant to buy gold at such elevated levels. Meanwhile Silver rose to the highest in almost 14 years as investors sought alternatives to a near-record gold price, with increased demand leading to tighter physical supply. Spot silver continued to rise 1.8%, following last week's 4% increase. The implied cost of borrowing the precious metal for one month spiked to above 6%, compared with its typical rate of nearly zero. The rise in appetite for the metal left the physical market under strain in London, where most silver is held by exchange-traded funds meaning it is not available to lend or buy. Renewed trade tensions have helped Silver to surge dramatically, hitting $39.57 on COMEX marking the highest level since the 2011 peak of $50 and setting a new lifetime high of ₹ 1,15,136 /Kg. in the domestic MCX futures market. The bullish breakout on the technical front, anticipated after it broke above 1 lakh mark in June, followed renewed tariff tensions between the US and its major trading partners. Gold Price Outlook Gold Weekly View: Sideways Trading Range: Rs. 96,200 – 99,150 / 10 gm. CMP (Rs. 97,930 / 10 gm.) Investors could closely watch key US economic reports due later in the session & in this week, including CPI, PPI, industrial production, & retail sales for clearer signals on the Federal Reserve's next policy decision. The cautious stance of the US Federal Reserve (Fed) might cap any sharp upside for the yellow metal as the US central bank is widely anticipated to hold interest rates steady in July meeting. Also tariff developments & further negotiations from Euro Zone & other trading partners could keep the movement in Gold sideways as of now. Meanwhile Silver has good potential to outperform Gold in long term perspective, driven by stronger fundamentals as the market enters its 5th consecutive year of structural deficit. However on a short term basis prices might turn volatile edging down after the strong rally seen last week only to provide fresh buying opportunities. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
09-07-2025
- Business
- Time of India
Gold price prediction today: Where is gold rate headed & is silver a better bet compared to yellow metal right now? Here's the outlook
Gold price prediction today: Gold rates may continue to be range-bound as geopolitical tensions ease and optimism mounts on possible US trade deals with countries on the extension of tariff deadline to August 1, 2025. Tired of too many ads? go ad free now Over the next few days silver may be the preferred option compared to gold, say experts. Naveen Mathur, Director - Commodities & Currencies, Anand Rathi Shares and Stock Brokers shares his views and recommendations for gold investors: Gold price continued to face hurdles near $3350 since last week after the precious metal edged lower since last week as the US June Nonfarm Payrolls (NFP) report altered the US Federal Reserve (Fed) policy expectations. The US NFP came in stronger than expected, rising by 147,000 jobs in June from 144,000 in May (revised from 139,000). Additionally, the Unemployment Rate held steady at 4.1% in June. These reports indicated continued labor market resilience, reducing the possibility of the Fed's near-term monetary accommodation. This, in turn, underpins the US Dollar (USD) and exerts some selling pressure on the non-yielding assets like Gold. On the other hand, renewed geopolitics saw Israel military attacking Houthi targets at three ports and a power plant in Yemen. Defence Minister Israel Katz confirmed the attack, saying they were carried out due to repeated attacks by the Iranian-backed rebel group on Israel. However the same failed to bring in additional upside in prices. Traders brace for the Federal Open Market Committee (FOMC) Minutes later on Wednesday for fresh impetus. Tired of too many ads? go ad free now Gold traders could also closely monitor the developments surrounding tariff policies amid renewed geopolitical tensions seen in the Middle East. Many major US trading partners are seen hurrying to secure deals, with Commerce Secretary Howard Lutnick telling reporters on Sunday that country-by-country tariffs will take effect August 1. While an interim accord with India was also expected to be reached, trade related uncertainties are seen easing in weeks ahead. US President Donald Trump's consistent tariff threats have temporarily muted demand for the yellow metal while supporting the demand for the Greenback. The president has announced new tariffs on countries, with Japan at 25% and South Korea at 30% standing out. He has also given a new deadline, August 1, instead of July 9. Overall broad trend could remain sideways to cautious at higher levels amid Fed meeting minutes due Wednesday night could remain the next major trigger which may also provide clues on timing of rate cuts with most members seen to favor rate cuts starting September. On the other hand, Silver could remain a preferred bet for coming month as compared to gold as Silver-backed ETFs now stand at the highest since mid-2022, after enjoying net inflows for the past eight weeks witnessing the longest run in almost a half-decade Gold Price Outlook Gold Price Weekly View: Sideways to Downside Spot Gold could broadly trade in a narrow range of $ 3350 – 3270/oz (CMP $ 3310) till next week as most trade related uncertainties are seen easing now while US macro cues could remain in focus ahead. On MCX this could translate to a trading range of Rs 97,650 – 95,230 / 10 gm in Aug futures contract.(CMP Rs 96,460 / 10 gm) (Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)
Time of India
25-06-2025
- Business
- Time of India
Gold price prediction today: Where is gold rate headed amidst easing Iran-Israel tensions? Here's the outlook
Gold rate today: Weakening bias may persist after a volatile week as prices cools off in line with easing geopolitical tensions. (AI image) Gold price prediction today: Gold rates have been declining amidst easing Iran-Israel tensions and lower demand for safe haven assets. Maneesh Sharma, AVP - Commodities & Currencies, Anand Rathi Shares and Stock Brokers shares his views and recommendations for gold investors: Weakening bias may persist after a volatile week as prices cools off in line with easing geopolitical tensions Last week global central banks showed caution with mixed policy moves, the US Fed continued to pause, signalling slower cuts on stagflation concerns, Swiss and Norwegian banks did cut, while BoE and the BoJ held steady. Economic data highlighted strains across regions amid escalating geopolitical risks. Global equities mostly closed lower on Middle East tensions, while US Treasuries rallied, the dollar edged up, and oil advanced. In the current week gold started with a modest upside on escalating middle east geopolitics but gave up gains on Tuesday as the US President Donald Trump announced that both nations had agreed to a complete ceasefire, adding that Iran will begin the truce immediately, followed by Israel. The yellow metal also hit an all-time high last week on MCX after Israel launched military operations targeting Iran's nuclear power plant sites. Investors now turn their attention to Federal Reserve Chair Jerome Powell, who is set to testify before US Congress on Tuesday and Wednesday, for any signals on the future path of interest rates. After setting a record just over $3,500 an ounce in April in spot markets, gold had consolidated in a roller coaster ride, while bearish sentiment has now started to seep into the market despite geopolitical tensions. This is due to the fact that gold prices have now discounted major fundamentals while a wave of corrective moves looks likely in July month. On the fundamental side, prices could look ahead to Fed Chair testimony for further clues on monetary policy outlook amid a data heavy week ahead. Gold Weekly View: Sideways to Downside (1 - 2 weeks) Gold Strategy: Sell on Rise MCX Gold looks to test downside support at around Rs. 95,200 - 94,800 per 10 gm levels on Aug. futures contract (CMP Rs. 97,240) in the weeks ahead. In International spot markets (CMP $3320/oz), a close below $ 3270 on daily basis is required for further downside up to $3225-3220 per oz in spot. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
The Print
21-06-2025
- Business
- The Print
Rupee recovers from two-month low level; settles 18 paise higher at 86.55 against US dollar
At the interbank foreign exchange, the domestic currency opened at 86.65 and traded in a narrow range of 86.55-86.67, before ending the session at its intra-day peak of 86.55 against the US dollar, registering a gain of 18 paise from previous closing level. A robust sentiment in domestic equity markets further supported the local unit, according to forex traders. Mumbai, Jun 20 (PTI) The rupee snapped its three-day losing streak and settled with a gain of 18 paise at 86.55 against the US dollar on Friday, buoyed by a massive inflow of foreign capital, retreating crude oil prices and a weakening greenback. The rupee had lost 30 paise to close at an over two-month low of 86.73 against the dollar on Thursday, logging a combined loss of 69 paise in the past three sessions. According to Maneesh Sharma, AVP – Commodities & Currencies, Anand Rathi Shares and Stock Brokers, the rupee gained on Friday but declined a little over 1 per cent this month so far, 'with a large portion of its decline occurring after Israel attacked targets in Iran last Friday'. Dilip Parmar, Research Analyst, HDFC Securities, attributed the rupee's resurgence to 'a revitalisation in the domestic stock markets and a subdued greenback, which receded following reports of President Donald Trump postponing a decision regarding an Iran strike'. Additionally, Parmar said, lower imported commodity prices lent additional buoyancy to the local rupee. 'In the near-term, the spot USD/INR pair faces resistance at 87.10 and finds support at 86.45. The overall bias for the USD/INR pair remains favourable,' he added. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.30 per cent lower at 98.60. In the domestic equity market, the 30-share BSE Sensex surged 1,046.30 points to settle at 82,408.17, while Nifty soared 319.15 points to 25,112.40. Brent crude, the global oil benchmark, declined 2.36 per cent to USD 76.99 per barrel in futures trade. Foreign institutional investors (FIIs) purchased equities worth Rs 7,940.70 crore on a net basis on Friday, according to exchange data. The latest weekly data released by the Reserve Bank of India on Friday showed India's forex reserves rose USD 2.294 billion to USD 698.95 billion during the week ended June 13. However, government data showed the country's eight core sectors' growth slowed down to 0.7 per cent, lowest in nine months, in May 2025 against 6.9 per cent in the same month last year. In April, the growth in output of these key infrastructure sectors were recorded at 1 per cent. PTI TRB HVA This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
