Latest news with #JigarTrivedi
Mint
3 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
6 days ago
- Business
- Time of India
Gold steadies as investors buy the dip ahead of US PCE data—can easing Trump tariffs and rising demand fuel a breakout?
Gold prices firm as investors buy the dip ahead of Fed's meeting minutes- Gold prices firmed up on Wednesday, with spot gold rising 0.4% to $3,312.15 an ounce as investors stepped in to buy after prices dipped below the $3,300 mark the day before. The market is holding its breath ahead of the Federal Reserve's latest policy meeting minutes, scheduled for release later in the day, looking for clues on the future path of U.S. interest rates. Meanwhile, U.S. gold futures also gained 0.3%, settling at $3,310.60. Gold price today Spot gold rises 0.4% to $3,312.15 as futures gain on bargain buying and market eyes Fed policy signals Why did gold prices fall below $3,300 and what's causing the rebound? In the previous session, gold prices slipped to a low of $3,285.19, which triggered some quick bargain hunting among investors. Jigar Trivedi, senior commodity analyst at Reliance Securities, said, 'Gold is rebounding mainly due to bargain hunting after a sharp drop in the previous session.' This dip below $3,300 encouraged buyers to jump back in, pushing prices higher again. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Bank-Seized Cars in the Philippines at Prices You Won't Believe! SUV Deals | Search Ads Search Now Undo How important are the Fed meeting minutes for gold investors? The minutes from the Fed's May 6-7 meeting are highly anticipated. Although the Fed has kept interest rates steady at 4.25%-4.50% since December, investors want to understand how long this pause might last. The minutes could reveal whether policymakers plan to hold rates steady or signal changes ahead. Han Tan, chief market analyst at Exinity Group, noted, 'Gold could climb on lower-than-expected PCE prints that ease stagflation fears while paving the way for more Fed rate cuts.' The U.S. PCE inflation data is due on Friday and is closely watched as the Fed's preferred inflation gauge. What's the forecast for gold prices in the coming months? Market watchers are optimistic. BNP Paribas projects U.S. gold futures to climb to an average of $3,685 in the third quarter and $3,850 in the fourth quarter. This forecast reflects ongoing concerns about inflation, economic uncertainty, and the possibility of Fed rate cuts later this year. Live Events How does U.S. political uncertainty affect gold prices today? Political uncertainty continues to play a role. Comments from U.S. President Donald Trump on trade negotiations have created market volatility. This unpredictability supports gold's safe-haven appeal, as investors tend to flock to gold when tensions rise or markets get unsettled. How are other precious metals performing alongside gold? While gold is firming, other metals have mixed results. Spot silver dipped 0.2% to $33.24 an ounce. Platinum rose 0.9% to $1,089.22, showing strength. Meanwhile, palladium slipped 0.4% to $974.28. This mix shows how investors are weighing different metals as economic signals develop. FAQs: Q1: What is driving gold prices today ? Gold prices are rising due to bargain buying after a sharp fall and investor focus on upcoming Fed updates. Q2: How can the Fed meeting minutes impact gold? Fed minutes may hint at future rate cuts, which could boost gold demand and push prices higher.
Zawya
6 days ago
- Business
- Zawya
Gold firms as investors buy the dip ahead of Fed's meeting minutes
Reuters - Gold firmed on Wednesday as investors bought the dip after prices declined in the previous session, while markets awaited minutes of the Federal Reserve's latest policy meeting and economic data for insights on the U.S. interest rate outlook. Spot gold was up 0.6% to $3,320.58 an ounce, as of 0853 GMT. Bullion fell below the $3,300 level and hit a low of $3,285.19 in the previous session. U.S. gold futures rose 0.6% to $3,319.50. "Gold is rebounding mainly due to bargain hunting after a sharp drop in the previous session," said Jigar Trivedi, senior commodity analyst at Reliance Securities. "Markets are also in a wait-and-watch mode ahead of the Fed minutes, prompting position adjustments." Markets are awaiting minutes of the Federal Reserve's latest policy meeting due later in the day, followed by the U.S. PCE data for April, due on Friday. A slew of Fed officials are also speaking this week for further insights into monetary policy. "Gold could climb on lower-than-expected PCE prints that ease stagflation fears while paving the way for more Fed rate cuts," said Han Tan, chief market analyst at Exinity Group. New York Fed President John Williams said on Wednesday central banks must "respond relatively strongly" when inflation begins to deviate from their target. The Fed has kept its policy rate at 4.25%-4.50% since December as officials wait for clearer insights into the economy as policymakers are also dealing with market volatility caused by U.S. President Donald Trump's fluctuating remarks on negotiations with the country's trading partners. "Gold may ultimately break out of the $3,000-$3,500 range once the Fed signals greater willingness to resume its rate-cutting cycle," Tan said. Spot silver gained 0.1% to $33.34 an ounce, platinum firmed 0.8% to $1,087.97 and palladium rose 0.1% to $979.57.
Shafaq News
6 days ago
- Business
- Shafaq News
Gold firms as investors buy the dip ahead of Fed's meeting minutes
Shafaq News/ Gold firmed on Wednesday as investors bought the dip after prices declined in the previous session, while markets awaited minutes of the Federal Reserve's latest policy meeting and economic data for insights on the U.S. interest rate outlook. Spot gold was up 0.6% to $3,319.61 an ounce, as of 1029 GMT. Bullion fell below the $3,300 level and hit a low of $3,285.19 in the previous session. U.S. gold futures rose 0.6% to $3,318.60. "Gold is rebounding mainly due to bargain hunting after a sharp drop in the previous session," said Jigar Trivedi, senior commodity analyst at Reliance Securities. "Markets are also in a wait-and-watch mode ahead of the Fed minutes, prompting position adjustments." Minutes of the Federal Reserve's latest policy meeting were due later in the day, followed by the U.S. PCE data for April, due on Friday. A slew of Fed officials are also speaking this week, potentially offering further insights into monetary policy. "Gold could climb on lower-than-expected PCE prints that ease stagflation fears while paving the way for more Fed rate cuts," said Han Tan, chief market analyst at Exinity Group. New York Fed President John Williams said on Wednesday that central banks must "respond relatively strongly" when inflation begins to deviate from their target. The Fed has kept its policy rate at 4.25%-4.50% since December as officials wait for clearer insights into the economy as policymakers also deal with market volatility caused by U.S. President Donald Trump's fluctuating remarks on negotiations with the country's trading partners. BNP Paribas expects U.S. gold futures to rise to $3,685 in the third quarter and to $3,850 in the fourth quarter on average. Spot silver gained 0.2% to $33.35 an ounce, platinum firmed 1.3% to $1,093.55 and palladium was steady at $978.27.
CNBC
6 days ago
- Business
- CNBC
Gold firms as investors buy the dip ahead of Fed's meeting minutes
Gold firmed on Wednesday as investors bought the dip after prices declined in the previous session, while markets awaited minutes of the Federal Reserve's latest policy meeting and economic data for insights on the U.S. interest rate outlook. Spot gold was up 0.6% to $3,320.58 an ounce, as of 0853 GMT. Bullion fell below the $3,300 level and hit a low of $3,285.19 in the previous session. U.S. gold futures rose 0.6% to $3,319.50. "Gold is rebounding mainly due to bargain hunting after a sharp drop in the previous session," said Jigar Trivedi, senior commodity analyst at Reliance Securities. "Markets are also in a wait-and-watch mode ahead of the Fed minutes, prompting position adjustments." Markets are awaiting minutes of the Federal Reserve's latest policy meeting due later in the day, followed by the U.S. PCE data for April, due on Friday. A slew of Fed officials are also speaking this week for further insights into monetary policy. "Gold could climb on lower-than-expected PCE prints that ease stagflation fears while paving the way for more Fed rate cuts," said Han Tan, chief market analyst at Exinity Group. New York Fed President John Williams said on Wednesday central banks must "respond relatively strongly" when inflation begins to deviate from their target. The Fed has kept its policy rate at 4.25%-4.50% since December as officials wait for clearer insights into the economy as policymakers are also dealing with market volatility caused by U.S. President Donald Trump's fluctuating remarks on negotiations with the country's trading partners. "Gold may ultimately break out of the $3,000-$3,500 range once the Fed signals greater willingness to resume its rate-cutting cycle," Tan said.
