Latest news with #PrathameshMallya
Time of India
3 days ago
- Business
- Time of India
Gold may rally further amid macro uncertainty, global tariff tensions: Analysts
New Delhi: Gold prices are likely to extend gains in the coming week, as macroeconomic uncertainty , tariff disputes and central bank buying continue to underpin investor appetite for the precious metal, according to analysts. Traders will closely monitor a series of key macroeconomic data releases from major economies, including the UK and EU GDP, the US Core PPI and Core CPI. Speeches by US Federal Reserve officials will also be in focus for further guidance on the near-term trajectory for the gold prices. Prathamesh Mallya, DVP - Research, Non-Agri Commodities and Currencies at Angel One , said gold prices continue to rally and make new highs in the international as well as domestic futures. "From the lows of Rs 98,079 per 10 grams made on July 28, to the highs of Rs 1,02,250 per 10 grams, the shine in gold prices continues to increase the wealth of gold investors. In the international markets, prices have surged from USD 3,268 per ounce on July 30 to USD 3,534.10 per ounce as of August 8. The rally seems unstoppable," he said. Last week, the most traded gold futures for October contracts climbed Rs 1,763 or 1.77 per cent on the Multi Commodity Exchange (MCX). Mallya attributed part of the rally to heightened tariff situation, which has caused chaos across the global world order and if it escalates further, then, gold might see further rally in the precious metal prices in the international markets towards USD 3,800 per ounce mark, while MCX futures will move higher towards Rs 1,10,000 per 10 grams mark over the next three months. "Tariffs, tariffs, tariffs -- it goes round and unending. In order to reshape global trade in America's favour, the US has started imposing higher tariffs on goods from dozens of trading partners, and India has found itself in the crosshairs of US President Donald Trump as he announced doubling tariffs on India to 50 per cent over its move to purchase oil from Russia. "This macro uncertainty has led investors globally to realign their portfolios, attuning increased allocations to gold, lifting prices further," Mallya added. According to Jateen Trivedi, VP Research Analyst - Commodity and Currency at LKP Securities, the near-term bias for gold remains positive as long as it sustains above Rs 99,000 per 10 grams. "While the dollar's strength last week capped upside in gold, domestic prices are cushioned by rupee weakness, which is likely to keep the downside limited. In the near term, volatility is expected to persist, with a broader trading range of USD 3,360-3,425 on Comex and Rs 98,500-1,03,000 per 10 grams on the MCX," Trivedi noted. NS Ramaswamy, Head of Commodity & CRM at Ventura Securities, said speculation about a US Federal Reserve interest rate cut has intensified following weaker-than-expected economic data last week. On Friday, Comex gold futures for December delivery surged to an all-time high of USD 3,534.10 per ounce in New York before settling at USD 3,491.30 per ounce on Saturday. "With both US growth and inflation worsening after last week's soft jobs report, gold remains at record levels. Central banks are buying, global trade wars are ongoing, geopolitical risks are elevated, and ETF holdings continue to expand. The Fed cutting interest rates could be the missing catalyst to reignite a record-breaking rally," he said. Ramaswamy also pointed to fresh triggers, including the US imposing import tariffs on one-kilo and 100-ounce gold bars, creating supply concerns, and fears about the Federal Reserve's independence, which are boosting investor demand. "Looking ahead, investors believe central banks will continue to add gold to their reserves given the still-uncertain economic environment and the drive to diversify away from the US Dollar," he added. Analysts also said that unless there is a sharp reversal in macroeconomic conditions, the combination of geopolitical uncertainty, trade tensions, currency fluctuations and central bank demand is expected to keep gold prices on an upward trajectory in the medium term.
Time of India
3 days ago
- Business
- Time of India
Gold rate outlook: Gold may extend rally amid macroeconomic uncertainty; analysts flag tariffs, central bank buying as key drivers
Gold prices are poised to extend gains in the coming week as macroeconomic uncertainty, trade tensions and central bank buying continue to fuel investor demand, analysts said. Traders will track a string of key economic data releases, including GDP figures from the UK and EU, and US Core PPI and Core CPI data. Tired of too many ads? go ad free now Speeches from US Federal Reserve officials will also be closely watched for clues on the near-term trajectory of gold prices, PTI reported. Prathamesh Mallya, DVP – Research, Non-Agri Commodities and Currencies at Angel One, said gold is making fresh highs in both domestic and international futures markets. 'From the lows of Rs 98,079 per 10 grams on July 28, to the highs of Rs 1,02,250 per 10 grams, the shine in gold prices continues to increase the wealth of gold investors. In the international markets, prices have surged from $3,268 per ounce on July 30 to $3,534.10 per ounce as of August 8. The rally seems unstoppable,' he said. Last week, the most traded October gold futures climbed Rs 1,763, or 1.77 per cent, on the Multi Commodity Exchange (MCX). Mallya attributed part of the surge to heightened tariff tensions. 'If it escalates further, gold might rally towards the $3,800 per ounce mark internationally, while MCX futures could head to Rs 1,10,000 per 10 grams over the next three months,' he said. He added, 'Tariffs, tariffs, tariffs — it goes round and unending. In order to reshape global trade in America's favour, the US has started imposing higher tariffs on goods from dozens of trading partners, and India has found itself in the crosshairs of US President Donald Trump as he announced doubling tariffs on India to 50 per cent over its move to purchase oil from Russia. This macro uncertainty has led investors globally to realign their portfolios, increasing allocations to gold. Tired of too many ads? go ad free now ' Jateen Trivedi, VP Research Analyst – Commodity and Currency at LKP Securities, said the near-term bias for gold remains positive as long as it holds above Rs 99,000 per 10 grams. 'While the dollar's strength last week capped upside in gold, domestic prices are cushioned by rupee weakness, which is likely to keep the downside limited. Volatility is expected to persist, with a broader trading range of $3,360–3,425 on Comex and Rs 98,500–1,03,000 per 10 grams on the MCX,' he noted, quoted PTI. NS Ramaswamy, Head of Commodity & CRM at Ventura Securities, said weaker-than-expected US economic data has intensified speculation about a Federal Reserve rate cut. On Friday, Comex gold futures for December delivery touched an all-time high of $3,534.10 per ounce before settling at $3,491.30. 'With both US growth and inflation worsening after last week's soft jobs report, gold remains at record levels. Central banks are buying, global trade wars are ongoing, geopolitical risks are elevated, and ETF holdings continue to expand. The Fed cutting interest rates could be the missing catalyst to reignite a record-breaking rally,' he said. Ramaswamy also pointed to fresh triggers, including the US imposing import tariffs on one-kilo and 100-ounce gold bars, raising supply concerns, and fears about the Federal Reserve's independence, both of which are boosting investor demand. 'Looking ahead, investors believe central banks will continue to add gold to their reserves given the still-uncertain economic environment and the drive to diversify away from the US Dollar,' he added. Analysts said unless macroeconomic conditions reverse sharply, the mix of geopolitical uncertainty, trade tensions, currency fluctuations and central bank demand is likely to keep gold on an upward trajectory in the medium term.
Economic Times
3 days ago
- Business
- Economic Times
Gold may rally further amid macro uncertainty, global tariff tensions: Analysts
New Delhi: Gold prices are likely to extend gains in the coming week, as macroeconomic uncertainty, tariff disputes and central bank buying continue to underpin investor appetite for the precious metal, according to will closely monitor a series of key macroeconomic data releases from major economies, including the UK and EU GDP, the US Core PPI and Core CPI. Speeches by US Federal Reserve officials will also be in focus for further guidance on the near-term trajectory for the gold prices. Prathamesh Mallya, DVP - Research, Non-Agri Commodities and Currencies at Angel One, said gold prices continue to rally and make new highs in the international as well as domestic futures. "From the lows of Rs 98,079 per 10 grams made on July 28, to the highs of Rs 1,02,250 per 10 grams, the shine in gold prices continues to increase the wealth of gold investors. In the international markets, prices have surged from USD 3,268 per ounce on July 30 to USD 3,534.10 per ounce as of August 8. The rally seems unstoppable," he said. Last week, the most traded gold futures for October contracts climbed Rs 1,763 or 1.77 per cent on the Multi Commodity Exchange (MCX).Mallya attributed part of the rally to heightened tariff situation, which has caused chaos across the global world order and if it escalates further, then, gold might see further rally in the precious metal prices in the international markets towards USD 3,800 per ounce mark, while MCX futures will move higher towards Rs 1,10,000 per 10 grams mark over the next three months."Tariffs, tariffs, tariffs -- it goes round and unending. In order to reshape global trade in America's favour, the US has started imposing higher tariffs on goods from dozens of trading partners, and India has found itself in the crosshairs of US President Donald Trump as he announced doubling tariffs on India to 50 per cent over its move to purchase oil from Russia."This macro uncertainty has led investors globally to realign their portfolios, attuning increased allocations to gold, lifting prices further," Mallya to Jateen Trivedi, VP Research Analyst - Commodity and Currency at LKP Securities, the near-term bias for gold remains positive as long as it sustains above Rs 99,000 per 10 grams."While the dollar's strength last week capped upside in gold, domestic prices are cushioned by rupee weakness, which is likely to keep the downside limited. In the near term, volatility is expected to persist, with a broader trading range of USD 3,360-3,425 on Comex and Rs 98,500-1,03,000 per 10 grams on the MCX," Trivedi Ramaswamy, Head of Commodity & CRM at Ventura Securities, said speculation about a US Federal Reserve interest rate cut has intensified following weaker-than-expected economic data last Friday, Comex gold futures for December delivery surged to an all-time high of USD 3,534.10 per ounce in New York before settling at USD 3,491.30 per ounce on Saturday. "With both US growth and inflation worsening after last week's soft jobs report, gold remains at record levels. Central banks are buying, global trade wars are ongoing, geopolitical risks are elevated, and ETF holdings continue to expand. The Fed cutting interest rates could be the missing catalyst to reignite a record-breaking rally," he said. Ramaswamy also pointed to fresh triggers, including the US imposing import tariffs on one-kilo and 100-ounce gold bars, creating supply concerns, and fears about the Federal Reserve's independence, which are boosting investor demand."Looking ahead, investors believe central banks will continue to add gold to their reserves given the still-uncertain economic environment and the drive to diversify away from the US Dollar," he added. Analysts also said that unless there is a sharp reversal in macroeconomic conditions, the combination of geopolitical uncertainty, trade tensions, currency fluctuations and central bank demand is expected to keep gold prices on an upward trajectory in the medium term.
News18
3 days ago
- Business
- News18
Gold may rally further amid macro uncertainty, global tariff tensions: Analysts
New Delhi, Aug 10 (PTI) Gold prices are likely to extend gains in the coming week, as macroeconomic uncertainty, tariff disputes and central bank buying continue to underpin investor appetite for the precious metal, according to analysts. Traders will closely monitor a series of key macroeconomic data releases from major economies, including the UK and EU GDP, the US Core PPI and Core CPI. Speeches by US Federal Reserve officials will also be in focus for further guidance on the near-term trajectory for the gold prices. Prathamesh Mallya, DVP – Research, Non-Agri Commodities and Currencies at Angel One, said gold prices continue to rally and make new highs in the international as well as domestic futures. 'From the lows of Rs 98,079 per 10 grams made on July 28, to the highs of Rs 1,02,250 per 10 grams, the shine in gold prices continues to increase the wealth of gold investors. In the international markets, prices have surged from USD 3,268 per ounce on July 30 to USD 3,534.10 per ounce as of August 8. The rally seems unstoppable," he said. Last week, the most traded gold futures for October contracts climbed Rs 1,763 or 1.77 per cent on the Multi Commodity Exchange (MCX). Mallya attributed part of the rally to heightened tariff situation, which has caused chaos across the global world order and if it escalates further, then, gold might see further rally in the precious metal prices in the international markets towards USD 3,800 per ounce mark, while MCX futures will move higher towards Rs 1,10,000 per 10 grams mark over the next three months. 'Tariffs, tariffs, tariffs — it goes round and unending. In order to reshape global trade in America's favour, the US has started imposing higher tariffs on goods from dozens of trading partners, and India has found itself in the crosshairs of US President Donald Trump as he announced doubling tariffs on India to 50 per cent over its move to purchase oil from Russia. 'This macro uncertainty has led investors globally to realign their portfolios, attuning increased allocations to gold, lifting prices further," Mallya added. According to Jateen Trivedi, VP Research Analyst – Commodity and Currency at LKP Securities, the near-term bias for gold remains positive as long as it sustains above Rs 99,000 per 10 grams. 'While the dollar's strength last week capped upside in gold, domestic prices are cushioned by rupee weakness, which is likely to keep the downside limited. In the near term, volatility is expected to persist, with a broader trading range of USD 3,360–3,425 on Comex and Rs 98,500–1,03,000 per 10 grams on the MCX," Trivedi noted. NS Ramaswamy, Head of Commodity & CRM at Ventura Securities, said speculation about a US Federal Reserve interest rate cut has intensified following weaker-than-expected economic data last week. On Friday, Comex gold futures for December delivery surged to an all-time high of USD 3,534.10 per ounce in New York before settling at USD 3,491.30 per ounce on Saturday. 'With both US growth and inflation worsening after last week's soft jobs report, gold remains at record levels. Central banks are buying, global trade wars are ongoing, geopolitical risks are elevated, and ETF holdings continue to expand. The Fed cutting interest rates could be the missing catalyst to reignite a record-breaking rally," he said. Ramaswamy also pointed to fresh triggers, including the US imposing import tariffs on one-kilo and 100-ounce gold bars, creating supply concerns, and fears about the Federal Reserve's independence, which are boosting investor demand. 'Looking ahead, investors believe central banks will continue to add gold to their reserves given the still-uncertain economic environment and the drive to diversify away from the US Dollar," he added. Analysts also said that unless there is a sharp reversal in macroeconomic conditions, the combination of geopolitical uncertainty, trade tensions, currency fluctuations and central bank demand is expected to keep gold prices on an upward trajectory in the medium term. PTI HG HG BAL BAL (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: August 10, 2025, 17:15 IST News agency-feeds Gold may rally further amid macro uncertainty, global tariff tensions: Analysts Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Mint
03-06-2025
- Business
- Mint
Gold price remains volatile amid geopolitical tensions. What should be your portfolio diversification strategy?
Gold rate today: Precious metal saw a marginal downward trend on Tuesday on Donald Trump's tariff tensions with China and the European Union, continued geopolitical instability from the Russia-Ukraine war, and investor caution ahead of the upcoming US Federal Reserve interest rate announcement. On Multi Commodity Exchange (MCX), August gold futures declined by ₹ 308, or 0.31 per cent, to trade at ₹ 97,645 per 10 grams. Gold prices in the international market experienced a slight decline on Tuesday, pulling back from nearly a four-week high. As of 0249 GMT, spot gold slipped 0.3% to $3,369.98 per ounce, after earlier reaching its highest point since May 8. U.S. gold futures remained unchanged at $3,390. In the previous trading session, gold had surged around 2.7%, marking its strongest one-day increase in more than three weeks. Gold as an asset has been a good diversifier in any portfolio for decades, according to market experts. According to brokerage firm Angel One report, Gold demand and supply are inherent factors defining the volatility in the asset. The supply has been consistent around more than 4000 tons every year for more than the past decade. Jewellery contributes more than 50% of the overall demand for gold historically and this trend has been similar for more than a decade. Central banks have been increasing their interest in the yellow metal since the covid-19. Prathamesh Mallya, DVP- Research, Non-Agri Commodities and Currencies, Angel One, believes that the ongoing trend in gold prices will likely continue in 2025, boosting the yellow metal prices for the second half of 2025. Mallya further said that investors should wait for meaningful correction towards Rs.85000/10 gms for accumulation and recommends to allocate atleast 10 per cent of their portfolio allocation towards gold for better diversification. 'Gold prices have had a good run in the past one and half year as can be seen in the chart alongside. However, for investors with a long term perspective, they should accumulate on every dips taking benefit of value average for higher returns,' he said. 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.
