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Time of India
5 days ago
- Business
- Time of India
Gold price prediction today: Why gold rate may remain volatile this week & should you sell or buy?
Gold price prediction: This week will remain volatile and set tone in terms of new direction in prices. (AI image) Gold price prediction today: Gold prices ended the last week down and also continued to consolidate during the entire May month below record highs touched in April. Meanwhile, spikes seen in prices in recent sessions were only on account of geopolitical developments involving Russia & Ukraine as Ukraine carried out its biggest strike on record hitting almost $7bn worth of Russian military planes. Maneesh Sharma, AVP - Commodities & Currencies, Anand Rathi Shares and Stock Brokers shares his views and recommendations: The yellow metal jumped almost 2% yesterday while Silver prices were boosted by 5 % due to augmented safe haven flows. On the global trade front, US President Donald Trump lashed out at China over the weekend and accused the latter of violating a preliminary tariff agreement, reviving fears of a trade war between the world's two largest economies. Trump also announced to double tariffs on steel imports from 25 % to 50 % while reportedly urging countries to present the most favourable trade by Wednesday in an effort to speed up discussions before reciprocal tariffs come into effect on July 8. This also kept the dollar upside limited, keeping it below 100 since last week. Bullion prices remained also up following Federal Reserve (Fed) Governor Christopher Waller's slightly dovish approach, saying that rate cuts remain possible later this year. However, he warned that policymakers are mainly focused on controlling inflation. Gold Price Outlook This week to remain volatile and set tone in terms of new direction in prices Overall bias for bullion still suggests limited upside for the current week as June tends to be the weakest season of the year for Gold Miners & stocks in terms of seasonal approach, leaving waning interest in markets. Meanwhile volatility could also remain high as US Fed members continue to stick to easing bias but rate cut probabilities stay delayed only after September month. Adding to these concerns, any further escalation in Russia Ukraine conflict, with any retaliatory response from Russia warrants caution for the USD bulls and may lead to volatility in bullion prices. Traders also look forward to the release of several macro cues including US JOLTS Job Openings along with speeches by influential FOMC members. The major focus, however, will remain on the US monthly employment details, or the Nonfarm Payrolls (NFP) report due on Friday amid steady payrolls may confirm delayed rate cut for the year. Gold Price Weekly View: Highly Volatile (Duration 1 – 2 weeks) Strategy: We expect limited upside in Gold for the coming week as any volatile spike towards $3420 - 3450 per oz in Spot (CMP $3358 per oz) remains a selling opportunity on a weekly basis. On MCX Aug futures (CMP Rs. 97,785 per 10 gm) prices could trade in a broad range of Rs. 99,850 – 93,980 per 10 gm for a duration of 10 – 15 trading days. MCX Silver is expected to remain steady as compared to Gold while may trade in a broad range of Rs, 98,700 – 1,03,500 per Kg. (CMP Rs. 1,00,630 per Kg.) in July futures contract. 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
21-05-2025
- Business
- Time of India
Gold price prediction today: Will gold rate go below Rs 90,000 & should you buy or sell?
Gold turned volatile last week as it plunged by almost 3% to a low of $ 3120 per Oz in spot before recovering. (AI image) Gold price prediction today: Gold rate has been fluctuating amidst global turmoil and uncertainty regarding Donald Trump's trade policies, the recent US credit rating downgrade . Till a few weeks ago gold prices were touching lifetime highs, but have since then retreated. So what's the gold price outlook for this week, and what should investors do if gold prices drop further? Maneesh Sharma, AVP - Commodities & Currencies, Anand Rathi Shares and Stock Brokers shares his views and recommendations: Gold Price Trends Gold turned volatile last week as it plunged by almost 3% to a low of $ 3120 per Oz in spot before recovering and closing above $ 3200 per oz on a weekly basis. A preliminary US-China trade agreement included tariff reductions as Washington lowered duties on Chinese goods from 145% to 30%, while Beijing planned to cut tariffs on US imports from 125% to 10% that weighed on sentiments. On the other softer macro cues continued to paint a mixed picture with US consumer sentiments showing second lowest reading on record lifting the sentiments towards the end of the week. Meanwhile Moody's recently downgraded the US credit rating by one notch from Aaa to Aa1, citing escalating debt levels and a growing burden from interest payments. This move followed previous downgrades by Fitch Ratings in 2023 and Standard & Poor's in 2011. Moody's now forecasts US federal debt to soaring to approximately 134% of GDP by 2035, up from 98% in 2023, with the federal deficit expected to widen to nearly 9% of GDP. This is attributed to higher debt servicing costs, increased entitlement spending, and falling tax revenues. Geopolitical tensions showed no signs of abatement as Trump declared on social media for Ukraine & Russia to immediately start negotiations toward a ceasefire but without the US. Sanctions threat, no demand for a time-line, and no pressure on the Russian leader indicated the ceasefire talks may not see a solution anytime soon. Gold Price Prediction & Outlook Rising concerns over the US economic outlook & fiscal health have aided sentiments so far during the current week. Meanwhile disappointing US economic indicators had also reinforced expectations of further rate cuts by the Federal Reserve later this year. However, focus for the current week remains on a slew of Fed speakers which could throw fresh direction on the trajectory of rate cuts during the year as CME tool still shows only 55 bp easing towards year end. Two Federal Reserve officials, including New York Fed chief John Williams, had suggested policymakers may not be ready to lower interest rates before September as they confront a murky economic outlook. Overall $ 3,150-3,080 support zone in spot remains crucial in coming days while technical trend remains sideways to slight upside for the current week with profit booking moves may continue at higher levels while buying interest to also persist around the support zone. Gold Weekly View: Sideways On MCX June futures Gold (CMP Rs. 93,530 per 10 gm) is expected to trade in a broad range of Rs 89,500 – 95,800 on weekly basis. One may initiate a sell strategy only below a close below Rs 92,300 with downside seen up to Rs 91,000 - 89,500. 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
14-05-2025
- Business
- Time of India
Gold price prediction today: What's the gold rate outlook for the coming days
: Global gold prices have been fluctuating - from hitting new highs, to giving up those gains - as trade uncertainties are weighing on the yellow metal's outlook. Domestically, the India-Pakistan conflict has also triggered some safe haven buying. Tired of too many ads? go ad free now So what's the gold rate outlook for this week? What are the key events that will shape the direction of gold prices going ahead and what should investors do? Maneesh Sharma, AVP - Commodities & Currencies, Anand Rathi Shares and Stock Brokers shares his views and recommendations: Gold, which posted strong gains last week, closing at $3325 per oz, erased its weekly losses amid US China trade deal optimism as both countries over weekend discussions agreed to a 90-day tariff reduction. On the MCX, gold closed near Rs 96,500 per 10 gm & silver around Rs 96,700 per kilogram on Friday last week, pushing the gold-silver ratio above 100:1 Meanwhile at the start of the week US Stocks registered gains in the aftermath of the US-China deal, in which both countries lowered duties and agreed to sustain further talks to reach a trade agreement. Washington and Beijing agreed to lower duties from 145% to 30% and from 125% to 10%, respectively, as revealed in a joint statement released. This weighed heavily on sentiments for Gold. Meanwhile, traders lowered their bets that the Federal Reserve (Fed) would cut rates just twice instead of three in 2025, according to data revealed by Prime Market Terminal. Gold Price Outlook Cooling US China trade uncertainty had so far weighed on sentiments, but some investors remain wary about the lack of detail in their deal announcement, and another flare-up could propel bullion to lead to volatility in prices. Focus this week could also remain on critical US macro cues including US Core Producer & Consumer Price Index which is expected to remain stable for the last month as impact of increased US tariffs takes place. Meanwhile, the Fed's refusal to commit to a timeline for rate cuts had kept uncertainty against monetary policy decisions last week, but the Fed chair is due to speak this week providing fresh cues to the market. If Powell signals discomfort with current labor market trends, expectations for rate cuts will likely strengthen, offering support for gold at lower levels. Tired of too many ads? go ad free now Geopolitical tensions will also be in focus this week amid Russia Ukraine peace deal as two leaders meet face to face on Thursday in Turkey. However the same is not confirmed by the Russian president so far while military clashes between Ukraine & Russia still continue to take place. With May-June month remaining seasonally subdued, a consolidative phase might occur in prices in the current month. Meanwhile Silver is expected to remain steady amid trade deal optimism between US & China could keep the downside limited in white metal. Tariff de-escalation moves would be constructive for silver, which derives more than half of its demand from industrial uses such as electronics and solar manufacturing. Traders will be looking for signs that the deal includes measures that could improve industrial trade flows for Silver. Gold Weekly View - Volatile June (CMP Rs. 93,990 per 10 gm); Sell on rise in the range of 94,800 – 95,500, with SL around 96,300, Target 93,000 - 92,500 (Duration, 1 – 2 weeks) (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)
