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Time of India
5 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
30-07-2025
- Business
- Time of India
Gold price prediction today: Where is gold rate headed in the near-term? Here's the outlook
Gold in spot markets might see a trading range of $3,345 – 3,275 per oz (CMP $3,322/oz) for 1 – 2 weeks perspective. (AI image) Gold price prediction today: Gold rates are likely to see a limited upside in the coming days as greater clarity on US President Donald Trump's trade policies emerges. Maneesh Sharma, AVP - Commodities & Currencies, Anand Rathi Shares and Stock Brokers shares his views and recommendations for gold silver investors: Gold faced four consecutive sessions of losses after rising in the initial half of last week, as the newly announced US-EU trade deal sapped demand for safe-haven assets. The US and the EU on Sunday reached a broad agreement that includes a 15% tariff on most European goods, while the US & China, the world's two largest economies, extended their tariff truce by another three months. The risk-on sentiment weighed on the yellow metal, a traditional safe-haven asset. Meanwhile, the ECB held rates steady, while US corporates earning for Q2 continued to surpass expectations last week. Gold had reversed its gains seen in the initial half of last week and had returned to the sideways range that has dominated since late April. On the currency front, the dollar rallied and bounced from near 3 year lows seen earlier in the month on trade deal optimism as safe haven Yen continued to find buyers at lower levels for the fourth consecutive day as it climbed to a one-and-a-half-week high in early session today, around the 148.70 area. Gold Price Outlook Weekly View: Gold: Sideways to Limited upside MCX Trading range (Oct futures): Rs 99,850 – 96,900 per 10 gm. (CMP Rs 98,700 per 10 gm) Investors brace for a busy week, featuring a Federal Reserve policy meeting followed by Bank of Japan on Thursday and a slew of economic data releases from the US. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 30 Captivating Portraits of Women from 80–100 Years Ago The Fed is widely expected to keep rates unchanged, but investors should closely watch for any signals of a potential rate cut in September, while rate hike signals from BoJ could also remain to be closely scrutinized. Overall, the Dollar Index looks likely to strengthen further from current levels with Yen likely to weaken against dollar on diminishing odds for an immediate interest rate hike by the Bank of Japan (BoJ). Also cooling inflation in Japan and domestic political uncertainty, could weigh on the JPY and support the USD/JPY pair. Key upside levels for the dollar are expected at $99.80 - 101.50 (CMP 98.80). This may remain a potential trigger for limited upside in precious metals complexes in the current week. Gold in spot markets might see a trading range of $3,345 – 3,275 per oz (CMP $3,322/oz) for 1 – 2 weeks perspective. Attention will also be on key labour market indicators, including ADP employment & nonfarm payrolls. The PCE price index, the Fed's preferred measure of inflation, will also be monitored for any signs of upward pressure stemming from tariffs which could remain a negative trigger for gold prices. Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
Time of India
02-07-2025
- Business
- Time of India
Gold price prediction today: Where is gold rate headed in the near future what levels will it hit? Here's the outlook
Gold price prediction: Gold witnessed volatile last week ending with corrective moves. (AI image) Gold price prediction today: Gold prices are expected to continue being volatile amidst emerging global economic situations. Maneesh Sharma, AVP - Commodities & Currencies, Anand Rathi Shares and Stock Brokers shares his views and recommendations for g old investors: Gold witnessed volatile last week ending with corrective moves seen on easing geopolitical tensions & some trade policy progress. Economic data showed mixed trends with soft US indicators, sluggish from the euro area, while the UK, Japan and India improved. Global equities rose, with US benchmarks hitting new highs, while Treasury yields and the dollar fell, and oil prices declined. Gold was seen breaching key supports below $ 3330 in spot last week, indicating prices continuing to consolidate below all time highs hit in the last week of April. The de-escalation of the Israel–Iran conflict, the trade agreement with China, and ongoing negotiations between the United States (US) & its peers to reach commercial deals were welcomed by investors last week, who had previously sought refuge in Bullion's safe-haven demand. US Job market numbers are key this week following a tandem decline in the US 2-year Treasury yield & dollar, as the Fed's Bowman joined Waller in voicing support for a July cut. 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 With President Trump also pressuring Powell to cut rates, the speech by Fed chair is also closely being scrutinized on timings of rate cut in coming months. Also with a jampacked shortened data week in the US, possibilities of market volatility also remains in the North American session on Tuesday & Thursday. The markets are currently pricing in a smaller chance that the next rate reduction by the Fed will come in July and see a roughly 75% probability of a rate cut as soon as September. This, along with concerns about the worsening US fiscal condition, dragged the US Dollar to its lowest level since February 2022 on Tuesday lending additional support to the yellow metal. Weekly View (Gold): Volatile In International spot markets, a further bounce towards $ 3380 – 3400 per oz remains a hurdle on a weekly basis in Spot (CMP $ 3350 per oz). Overall broad trading range could remain $ 3395 – 3250/Oz. On MCX this could translate to a trading range of Rs 98,500 – 96,000 / 10 gm. on a weekly basis (CMP Rs 97,400/10 gm). 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
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.
