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News18
20 hours ago
- Business
- News18
Gold Price Prediction: Will Gold Hit Rs 1,10,000 Per 10 grams? Here's What Experts Say
Last Updated: Gold and silver saw sharp volatility on Thursday, initially falling after a US Federal Court blocked Trump's tariff plan; Good time to invest? Gold Price Prediction: Investors booked profits in gold on Friday, May 30, as June MCX gold futures opened lower by Rs 592, or 0.62%, at Rs 94,797 per 10 grams, amid concerns about Trump-era tariffs and volatile trade. This was despite supportive preliminary GDP data showing an economic contraction, which had earlier boosted gold's safe-haven appeal. Analysts remain bullish on gold, projecting a potential rise to Rs 1,10,000 per 10 grams within a year, citing gold's consistent track record of delivering solid long-term returns. On Thursday, gold and silver futures closed higher in domestic and global markets. Gold June futures settled at Rs 95,389/10g with a 0.12% gain, and silver July futures at Rs 97,826/kg, up 0.59%. However, on Friday, silver July futures at MCX also opened lower by Rs 884, or 0.9%, at Rs 96,942/kg. Gold and silver saw sharp volatility on Thursday, initially falling after a US Federal Court blocked Trump's tariff plan. However, prices recovered after President Trump announced plans to appeal the ruling. Meanwhile, the dollar index slipped as US jobless claims rose more than expected, lending support to bullion prices. Currently, the US Dollar Index (DXY) is hovering near 99.44, up 0.16%. US jobless claims increased last week to 240,000, higher than expectations of 229,000. Preliminary GDP data also signaled contraction, adding to gold's safe-haven demand. Manoj Kumar Jain of Prithvifinmart Commodity Research expects gold and silver prices to remain volatile, driven by dollar index fluctuations, geopolitical tensions, and key US data releases. 'Gold could hold support at $3,250/oz and silver at $32.80/oz on a weekly closing basis," he said. Rahul Kalantri, VP Commodities at Mehta Equities Ltd., noted that while gold plunged initially after the US court ruling, prices bounced back amid growing economic concerns. 'Gold has support at $3,274-3,255 and resistance at $3,322-3,340; silver's support is at $32.82-32.65 and resistance at $33.35-33.55," Kalantri said. In INR terms, gold has support at Rs 94,910-94,580 and resistance at Rs 95,750-95,940. Silver's support is at Rs 96,480-95,750, with resistance at Rs 97,950-98,750. Trading Strategy Manoj Kumar Jain suggests: Gold price prediction Angel One expects gold to continue delivering strong returns, projecting a price of $4,000/oz internationally and Rs 1,10,000/10g domestically within a year. They suggest accumulating around Rs 85,000/10g for long-term investment. First Published: May 30, 2025, 14:06 IST
Economic Times
3 days ago
- Business
- Economic Times
Gold Price Prediction: Yellow metal slips by Rs 1,900 in 4 days. Is more downside ahead?
Gold prices have come under pressure due to profit booking, dropping by Rs 1,900 over the last four trading sessions. On Wednesday, gold and silver closed mixed in the domestic market but ended lower internationally. Domestically, Gold June futures rose 0.14% to Rs 95,278 per 10 grams, while Silver July futures fell 0.23% to Rs 97,255 per kilogram. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads How to trade gold? Gold has support at Rs 94,660-94,200 and resistance at Rs 95,700-96,100 Silver has support at Rs 96,650-96,000 and resistance at Rs 98,000-98,850 Tired of too many ads? Remove Ads 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 Amid fading chances of a rate cut ahead and after the US Court's ruling to remove the reciprocal tariffs, Gold prices have started to witness profit booking, falling by Rs 1,900 in just the last 4 trading sessions. Gold June futures contracts at MCX fell by Rs 778 or 0.81% on Thursday to their day's low of Rs 94,500/10 silver July futures contracts were trading higher at Rs 97,647/kg, up by Rs 392 or 0.4% around 10:15 Wednesday, gold and silver settled on a mixed note in the domestic market, while settling on a weaker note in the international markets. Gold June futures contract settled at Rs 95,278 per 10 grams with a gain of 0.14% while silver July futures contract settled at Rs 97,255 per kilogram with a loss of 0.23%.Gold and silver extended their fall in the international markets amid easing safe-haven buying due to strength in the dollar index and U.S. equity markets. The U.S. Fed shows confidence in the U.S. economy in its meeting minutes released on Wednesday. The U.S. Fed Chairman said that economic activity and job markets remain strong, but showed concern about inflation, and he denied for any immediate policy decline in the precious metals also followed a US Court of International Trade ruling that President Trump exceeded his authority with reciprocal tariffs, ordering their permanent removal. The administration is expected to U.S. President said on Wednesday, for another round of talks with Iran on the nuclear deal and also told the Israeli Prime Minister to hold off strike on US gold exports to Switzerland rose sharply in April after tariffs on precious metals were lifted, affecting global gold trade dynamics.'Fading chances of interest rate cuts and easing tensions in the Middle East could push gold and silver prices lower,' said Manoj Kumar Jain of Prithvifinmart Commodity Research.'We expect gold and silver prices to remain volatile this week amid volatility in the dollar index, geo-political tensions and ahead of the key U.S. economic data; 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,' he the US Dollar Index , DXY, was hovering near the 100.25 mark, gaining 0.38 or 0.38%.Manoj Kumar Jain suggested the following ranges for gold and silver on MCX:Jain suggests selling gold below Rs 95,000 with a stop loss of Rs 95,550 for a target of Rs 94, gold (22 carat) prices in Delhi stand at Rs 58,120/8 grams while pure gold (24 carat) prices stand at Rs 61,936/8 gold (22 carat) prices in Mumbai stand at Rs 57,240/8 grams while pure gold (24 carat) prices stand at Rs 61,048/8 gold (22 carat) prices in Chennai stand at Rs 56,752/8 grams while pure gold (24 carat) prices stand at Rs 60,520/8 gold (22 carat) prices in Hyderabad stand at Rs 56,920/8 grams while pure gold (24 carat) prices stand at Rs 60,712/8 grams.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Economic Times
3 days ago
- Business
- Economic Times
Gold price prediction: Gold bulls eye Rs 1.10 lakh/10 gms. Should you accumulate?
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads How to trade gold? Manoj Kumar Jain suggested the following ranges for gold and silver on MCX: Gold has support at Rs 95,000-94,600 and resistance at Rs 95,800-96,160 Silver has support at Rs 97,100-96,600 and resistance at Rs 98,300-99,100 Tired of too many ads? Remove Ads 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 Investors booked profits in gold amid volatility linked to Trump-era tariff concerns, with June gold futures on the MCX opening lower by Rs 592, or 0.62%, at Rs 94,797 per 10 grams on Friday. This came despite preliminary GDP data showing a contraction, which had boosted bullion's safe-haven appeal in the previous ongoing price swings, analysts remain bullish on gold, projecting it could rally to Rs 1,10,000 per 10 grams within a year, citing its historical track record of delivering strong returns to Thursday, gold and silver settled on a positive note in the domestic and international markets. Gold June futures contract settled at Rs 95,389 per 10 grams with a gain of 0.12% and silver July futures contract settled at Rs 97,826 per kilogram with a gain of 0.59%.Meanwhile, on Friday, silver July futures contracts at MCX also opened lower by Rs 884 or 0.9% at Rs 96,942/ and silver showed very high price volatility on Thursday. Gold prices were sharply down after the U.S. Federal court blocked Trump's tariff plan, but prices recovered from their lows after the U.S. President said that he would appeal against the court dollar index also plunged, and the U.S. jobless claims increased larger than expected and supported precious metal prices. The dollar index hit 100 marks in the early trading session but was unable to sustain at higher levels and plunged the US Dollar Index, DXY, was hovering near the 99.44 mark, gaining 0.16 or 0.16%.The U.S. jobless claims increased last week to 2,40,000 against expectations of 2,29000. The preliminary GDP data is also showing contraction in the economic growth and supporting precious metal prices.'We expect gold and silver prices to remain volatile in today's session amid volatility in the dollar index, geo-political tensions and ahead of the key U.S. economic data; gold prices could hold its support level of $3,250 per troy ounce and silver prices could also hold $32.80 per troy ounce levels on a weekly closing basis,' said Manoj Kumar Jain of Prithvifinmart Commodity suggests buying silver around Rs 97,200-96,800 with a stop loss of Rs 96,400 for a target of Rs 98, an investor's perspective, a report by Angel One suggests that despite all the volatility, gold has historically paid good returns, and one should make investments in gold from a long-term perspective.'From a year perspective, $4000/ounce in the international markets and Rs1,10,000/10 gm in the Indian markets looks very much likely,' they that, they advise that one should wait for meaningful correction towards Rs 85,000/10 gms for gold (22 carat) prices in Delhi stand at Rs 57,800/8 grams while pure gold (24 carat) prices stand at Rs 61,584/8 gold (22 carat) prices in Mumbai stand at Rs 57,464/8 grams while pure gold (24 carat) prices stand at Rs 61,256/8 gold (22 carat) prices in Chennai stand at Rs 56,816/8 grams while pure gold (24 carat) prices stand at Rs 60,504/8 gold (22 carat) prices in Hyderabad stand at Rs 56,984/8 grams while pure gold (24 carat) prices stand at Rs 60,760/8 grams.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
3 days ago
- Business
- Time of India
Gold price prediction: Gold bulls eye Rs 1.10 lakh/10 gms. Should you accumulate?
Gold price today: Despite high volatility, analysts expect gold prices to surge to ₹1,10,000 per 10 grams within a year, citing its historical track record of delivering strong returns to investors. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads How to trade gold? Manoj Kumar Jain suggested the following ranges for gold and silver on MCX: Gold has support at Rs 95,000-94,600 and resistance at Rs 95,800-96,160 Silver has support at Rs 97,100-96,600 and resistance at Rs 98,300-99,100 Tired of too many ads? Remove Ads 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 Investors booked profits in gold amid volatility linked to Trump-era tariff concerns, with June gold futures on the MCX opening lower by Rs 592, or 0.62%, at Rs 94,797 per 10 grams on Friday. This came despite preliminary GDP data showing a contraction, which had boosted bullion's safe-haven appeal in the previous ongoing price swings, analysts remain bullish on gold, projecting it could rally to Rs 1,10,000 per 10 grams within a year, citing its historical track record of delivering strong returns to Thursday, gold and silver settled on a positive note in the domestic and international markets. Gold June futures contract settled at Rs 95,389 per 10 grams with a gain of 0.12% and silver July futures contract settled at Rs 97,826 per kilogram with a gain of 0.59%.Meanwhile, on Friday, silver July futures contracts at MCX also opened lower by Rs 884 or 0.9% at Rs 96,942/ and silver showed very high price volatility on Thursday. Gold prices were sharply down after the U.S. Federal court blocked Trump's tariff plan, but prices recovered from their lows after the U.S. President said that he would appeal against the court dollar index also plunged, and the U.S. jobless claims increased larger than expected and supported precious metal prices. The dollar index hit 100 marks in the early trading session but was unable to sustain at higher levels and plunged the US Dollar Index, DXY, was hovering near the 99.44 mark, gaining 0.16 or 0.16%.The U.S. jobless claims increased last week to 2,40,000 against expectations of 2,29000. The preliminary GDP data is also showing contraction in the economic growth and supporting precious metal prices.'We expect gold and silver prices to remain volatile in today's session amid volatility in the dollar index, geo-political tensions and ahead of the key U.S. economic data; gold prices could hold its support level of $3,250 per troy ounce and silver prices could also hold $32.80 per troy ounce levels on a weekly closing basis,' said Manoj Kumar Jain of Prithvifinmart Commodity suggests buying silver around Rs 97,200-96,800 with a stop loss of Rs 96,400 for a target of Rs 98, an investor's perspective, a report by Angel One suggests that despite all the volatility, gold has historically paid good returns, and one should make investments in gold from a long-term perspective.'From a year perspective, $4000/ounce in the international markets and Rs1,10,000/10 gm in the Indian markets looks very much likely,' they that, they advise that one should wait for meaningful correction towards Rs 85,000/10 gms for gold (22 carat) prices in Delhi stand at Rs 57,800/8 grams while pure gold (24 carat) prices stand at Rs 61,584/8 gold (22 carat) prices in Mumbai stand at Rs 57,464/8 grams while pure gold (24 carat) prices stand at Rs 61,256/8 gold (22 carat) prices in Chennai stand at Rs 56,816/8 grams while pure gold (24 carat) prices stand at Rs 60,504/8 gold (22 carat) prices in Hyderabad stand at Rs 56,984/8 grams while pure gold (24 carat) prices stand at Rs 60,760/8 grams.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Economic Times
5 days ago
- Business
- Economic Times
Gold prices predicted to fall up to Rs 93,000/10 gms. Here's what analysts say
Around 11 am, the metal saw buying interest from lower levels, rising 0.36% to trade at Rs 95,490 per 10 grams, a gain of nearly Rs 350 from Tuesday's closing price. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads 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 Tired of too many ads? Remove Ads 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 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)
