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Time of India
3 days ago
- Business
- Time of India
Gold price prediction today: Where are gold rates headed on June 3, 2025 and in the near-term?
Considering the ongoing US-China tension and weakness in the US Dollar Index, it is advisable to buy the dips with stoploss below $3,325/$3300. (AI image) Gold price prediction today: Gold rates have shown considerable volatility recently, without establishing a definitive trend in either direction. International developments, particularly the trade tariff decisions by Donald Trump and ongoing geopolitical tensions, continue to influence daily gold prices. Given these unpredictable circumstances, investors face uncertainty about their investment strategies. What's the outlook on gold prices in the near term? Praveen Singh, Senior Fundamental Research Analyst- Currencies and Commodities at Mirae Asset Sharekhan shares his views: Gold Performance: Following a weekly loss of 2.02% in the week ending May 30, spot gold prices are sharply higher this week due to renewed safe haven demand as US-China and other geopolitical concerns come to the fore. On Monday, China accused the US of violating the US-China trade truce as the US imposed further chip technology curbs. Last week, the US said that it will revoke visas for Chinese students who relate to the Chinese Communist Party or are studying in critical fields. The US Administration also barred the export of critical US jet engine parts and technology to China. It plans to broaden restrictions on China's tech sector with new regulations to capture subsidiaries of companies under US curbs as well. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like New Container Houses Morocco (Prices May Surprise You) Container House | Search Ads Search Now Undo China's slow approval for rare earth exports is being cited as the cause behind US's actions against China. Gold Data roundup: US data released Monday were slightly weaker than expected. ISM manufacturing came in at 48.50 Vs the forecast of 49.50 as the manufacturing sector contracted for the third straight month on tariff uncertainties. ISM's Import component slumped to a 16-year low, while the export gauge fell to the lowest level in five years. Contraction spending in April contracted by 0.4% as against the forecast of a 0.2% expansion. The Eurozone's manufacturing PMI (May) at 49.40 matched the estimate in its final reading, while the UK's manufacturing PMI at 46.40 beat the estimate of 45.10. Gold ETF: Total known global gold ETF holdings stood at 88.508Moz as of May 30. Holdings recorded first weekly inflow after five straight weeks of outflows as holdings are up 6.82% YTD. Upcoming data and events: The European Central Bank will deliver its monetary policy on June 5 wherein the Central Bank is expected to cut the key rates by 25 bps-- its eighth rate cut since the Bank embarked on its rate cutting spree in June 2024. Major US data to be released ahead in this week include JOLTs job openings (April), ADP employment change (May), ISM Services (May), trade balance (April) and nonfarm payroll (May). Investors will also monitor China's manufacturing and services PMIs (May) and Europe's services PMIs (May). Geopolitical watch: The Security Service of Ukraine (SBU) carried out a massive drone attack deep inside Russia on June 1, which reportedly hit 41 Russian aircrafts. Both the countries concluded their latest peace talks in Istanbul on June 2; however, peace prospects remain dim. US Dollar Index and yields: At the time of writing, the US Dollar Index was at 98.71, down nearly 0.60% on the day, lowest since April 2022 barring April 2024 --reciprocal tariff sell-off period. Big investments cutting their Dollar Index forecasts is also weighing on the Greenback. Ten-year US yields and 30-year US yields respectively at 4.44% and 4.9781% were up by 0.90% on the day. Gold price Outlook: A close above $3,372 will be quite positive for the metal. Considering the ongoing US-China tension and weakness in the US Dollar Index, it is advisable to buy the dips with stop loss below $3,325/$3300. Worsening geopolitical situation and further weakness in the US Dollar Index may help the yellow metal test the psychological resistance at $3400, followed by possible tests of next resistance levels at $3414/$3435. Traders need to monitor the evolving China-US trade situation to minimize their risks. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
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Business Standard
28-05-2025
- Business
- Business Standard
Gold prices may correct further; check support levels to buy the dips
Spot gold may test the support zone of $3,250-$3,257 (₹93,700-₹93,950). Downside from current level may be limited though. Praveen Singh Mumbai Gold – May correct further Gold performance: Spot gold prices fell for a second consecutive time on May 27 as easing trade tensions, following US President Donald Trump delaying proposed 50 per cent tariff on Europe, boosted risk appetite. Further, speculations that Japan will try to cap rise in long-term yields. The Japanese Finance Ministry sent a questionnaire to market participants regarding appropriate issuance amounts for government bonds. It is to be noted that Japan's long-term yields soared to record highs last week after a sale of 20-year debt got the weakest demand in more than a decade. Decline in yields globally supported risk assets and weighed on precious metals in turn. On May 27, spot gold was changing hands at $3,295, down 1.43 per cent. The yellow metal traded between $3,285 and $3,250 during the day. MCX gold (June), meanwhile, was at ₹95,047, down around 0.94 per cent. US Dollar Index and yields: 10-year US Treasury yields were at 4.43 per cent, down nearly 1.8 per cent on Tuesday, as global yields fell. Thirty-year US yields fell nearly 2 per cent to 4.93 per cent, moving back below the 5-per cent mark after three days. The US Dollar Index, at 99.54, was up around 0.6 per cent on the day. Data roundup: US data released on Tuesday were largely positive for the US Dollar as durable goods orders (April prel.) came in at -6.3 per cent that beat the forecast of -7.8 per cent. Similarly, durables, ex-transport, came at 0.2 per cent and topped the estimate of 0 per cent. However, prior data were revised lower. FHFA House Price Index rose 0.1 per cent M-o-M in March, which trailed the forecast of 0.1 per cent. Conference Board Consumer Confidence (May) rose 98, the highest since February and topped the median estimate of 87.10. US consumer confidence rebounded from a near five-year low on improving economic outlook amid tariff truce talks. Upcoming data: Traders will look forward to FOMC minutes (May 7 meeting). That apart, today's Richmond Fed manufacturing Index (May) and Dallas Fed Services Activity (May) will be released in the US today. However, major focus will be on the US GDP (Q1 secondary reading), personal consumption (Q1 secondary reading), and weekly job data to be released on May 29. China's gold imports rose to an 11-month high: China imported 127.5 metric tonnes of gold in April -- an 11-month high. China gold import was up 73 per cent M-o-M despite high prices. Swiss gold exports decline: Gold ETF: Total known global gold ETF holdings fell to 87.851MOz, lowest since April 8, as ETFs saw outflows for the fifth straight week. Nonetheless, holdings are up around 6% YTD. Gold Outlook: Reduced safe haven demand and strong US Conference Board Consumer Confidence data amid stabilising yields are likely to lead to further correction in gold prices unless trade concerns resurface. ETF outflows and a firmer Dollar can boost the downside pressure. Spot gold may test the support zone of $3,250-$3,257 (₹93,700-₹93,950). Downside from current level may be limited though. Resistance is at $3,325 (₹95,900)/$3,350 (₹96,600).
Fashion Network
08-05-2025
- Business
- Fashion Network
Unicommerce's subsidiary Shipway launches one-day return pick-ups with instant refunds
Logistics platform Shipway, a subsidiary of Unicommerce, has introduced one-day return pick-ups with near-instant refunds to help e-commerce and retail brands streamline reverse logistics and ameliorate customer satisfaction. Over 7.5 lakh products were returned between October 2024 and March 2025, Shipway announced in a press release. Return rates can reach as high as 40% depending on product category and seasonality, often creating operational bottlenecks. Shipway's latest initiative aims to address this by enabling brands to pick up returns within 24 hours, conduct doorstep quality checks, and process refunds immediately. The doorstep quality check also supports inventory control by identifying restockable products and minimising return fraud. Shipway's reverse logistics network spans over 21,000 Indian pin codes and is supported by partners such as Delhivery, Shadowfax, Ekart, and Xpressbees. 'Returns have always been a pain point for D2C brands," said Shipway's chief business officer Saurabh Kumar Chaudhary in a press release. "Our technology strives to enable brands to offer a seamless return experience that could positively impact customers' trust in the brand.' Shipway integrates with platforms such as Return Prime and offering plug-and-play solutions to simplify post-purchase experiences. Baggit's head of digital marketing Praveen Singh said Shipway's returns system 'ensures quick action… and provides a sense of priority to the customer.' Domin8's brand head Buyju Balakrishnan added that each seamless return is 'a step toward stronger brand loyalty and operational excellence.'
Time of India
30-04-2025
- Business
- Time of India
Gold rate prediction on Akshaya Tritiya: Where are gold prices headed on April 30, 2025 and in the near-term?
Gold price outlook (AI image) Gold rate prediction : Buying gold on Akshaya Tritiya is considered auspicious according to Indian traditions. But what's the outlook for gold and what factors will drive gold prices in the coming days? Praveen Singh, Senior Fundamental Research Analyst- Currencies and Commodities at Mirae Asset Sharekhan shares his views: Gold Performance: On April 29, spot gold swung between $3,299 and $3,349 and was changing hands at $3,322, down around 0.65% on the day, at the time of writing. MCX June contract at Rs 95,640 was down by nearly 0.40%. Notwithstanding disappointing data out of the US, spot gold was slightly lower as US President Trump signed orders to remove tariffs on some auto imports. In addition, investors are still hopeful that US-China trade tension may ease further. Data roundup: US data released Tuesday were disappointing as advance trade balance (March) came in at record -$162 billion Vs the estimate of -$145b as imports surged to beat tariff deadlines. Larger than expected US trade deficit would reduce Q1 GDP as imports would get subtracted from the GDP figure. As per a Bloomberg estimate, trade may reduce close to 3% points from top-line GDP growth on a surge in consumer goods imports, though gold imports need to be excluded from this calculation. JOLTs job openings (March) at 7192K were well short of 7500K estimate and prior data of 7568K was revised lower. JOLTs openings have fallen to the lowest since January 2021 barring September 2024 data. 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 JOLTs job opening rate fell from 4.5% to 4.3% and trailed the forecast of 4.5%. Conference Board Consumer Confidence (April) fell from 93.90 (revised higher from 92.90) to 86, lowest since May 2020, as expectations deteriorated the most since May 2011. Stephanie Guichard, Senior Economist, Global Indicators at The Conference Board, noted that the share of consumers expecting fewer jobs in the next six months (32.1%) was nearly as high as in April 2009, in the middle of the Great Recession as expectations about future income prospects turned clearly negative for the first time in five years. The details indicate that concerns about the economy have now spread to consumers worrying about their own personal situations. Elsewhere, European Central Bank's 1-year and 3-year expectations (March) at 2.9% and 3.3% were hotter than respective expected data of 2.5% and 2.3%. The ECB Governing Council member Yannis Stournaras said that the Central Bank should be cautious on further rate cuts due to uncertain global economic environment. It is possible that the ECB may halt its rate cuts temporarily after a 25-bps cut at the next meeting. US Dollar Index and yields: Ten-year US yields slid nearly 1% to 4.16%, lowest since April 7 as weak US economic indicators boosted rate cut bets. Similarly, two-year yields eased about 1% to 3.65%, lowest since April 9. Despite lower yields, the US Dollar Index at 99.03 was slightly higher as hopes concerning tariffs supported the greenback. Upcoming data: Major US data on tap on April 30 include ADP employment change (April), 1Q Advance GDP annualized, personal consumption (1Q Advance), Employment cost Index (1Q) and real personal spending (March). Investors will also monitor Germany's PPI and CPI (April prel.) along with China's manufacturing, non-manufacturing PMIs and Caixin China manufacturing (all April). ETF: Total known global gold ETF holdings as of April 28 stood at 89.072MOz, lowest since April 14, as holdings fell for the fifth straight day as investors booked profits. Nonetheless, ETF holdings are up nearly 7.5% YTD. COMEX gold inventory: COMEX gold inventory was noted to be 41.619MOz on April 28, down over 7% from the record high inventory of 45.072MOz recorded on April 4. COMEX gold inventory may be coming down on reversal of gold flow; thus, gold going back from New York to London. US-China trade standoff: On April 28, US Treasury Secretary Scott Bessent said that it is up to China to take the first step to de-escalate trade tensions. However, China's Foreign Minister Wang Yi at a BRICs meeting on Monday urged countries to stand firm and resist 'bully' Trump. The Foreign Ministry has vowed that Beijing won't budge. However, investors remain hopeful that China will eventually de-escalate as Beijing suspended tariffs on some of US imports including medical equipment, plane leases and at least eight semiconductor-related products. US President Trump is expected to sign orders to exempt some auto foreign parts for cars and trucks made inside the US and give imported automobiles a reprieve from separate tariffs on aluminum and steel. Gold Price Outlook: Major focus of investors is on US-China trade developments. Unless both the countries come together to sort out their differences, gold is likely to be well supported, though reversal of gold flow from New York to London is somewhat negative for the metal. US data continues to disappoint. Weaker than expected JOLTs opening and a multi-year low Conference Board consumer confidence data reflect a weakening economy, which would weaken further as trade war continues. Conference Board consumer confidence data fell for the fifth straight month. China choosing not to respond to US to initiate trade talks means trade friction between world's two largest economies is likely to continue in at least near-term, which will keep the yellow metal supported. If there is no major positive development on trade issues, dip buying is the preferred strategy. The metal may test $3372-$3400 resistance zone. Upside is likely to be capped at $3400 in the short-term. Support is at $3260 (MCX Gold June contract Rs 93,800). Resistance is at $3350 (Rs 96,500)/$3372 (Rs 97,000). Stay informed with the latest business news, updates on bank holidays and public holidays . Master Value & Valuation with ET! Learn to invest smartly & decode financials. Limited seats at 33% off – Enroll now!
