Latest news with #Rs.96
Mint
15-07-2025
- Business
- Mint
Trump's tariff: Gold price surges for fourth week. Is it right time to invest?
Gold prices continued their upward momentum for the fourth straight week amid escalating geopolitical risks and rising trade tensions. On Tuesday, July 15, Gold prices traded higher driven by heightened global trade tensions that boosted demand for safe-haven assets. As of 0635 GMT, spot gold rose 0.5 per cent to $3,359.01 per ounce, while U.S. gold futures edged up 0.3% to $3,368.20. Back home, the yellow metal inched up in early morning trade on Tuesday. MCX Gold futures for August 5 delivery were up by 0.12 per cent at ₹ 97,896 per 10 grams, while MCX Silver futures for September 5 delivery were trading 0.54% lower at ₹ 1,12,330 per kilogram during the same period. Anuj Gupta, Director, Ya Wealth Research & Advisory, says that safe haven demand against uncertainty provide support to the gold prices. The latest surge in prices is being fueled by renewed safe-haven demand, as uncertainty deepens around Trump's aggressive trade tactics and escalating US-Russia tensions. Reports suggest that Trump is preparing to send offensive weapons to Ukraine, which risks intensifying the ongoing conflict with Russia. In addition, the US administration is drafting a sanctions bill that could grant Trump sweeping authority to punish Russia and any nation supporting its war efforts. Proposed tariffs include a massive 500 per cent duty on countries aiding Russia, potentially impacting China, India, and Brazil. According to Sugandha Sachdeva- Founder-SS WealthStreet, price outlook suggests that gold remains well-supported at $3,280 per ounce in the international market, with potential to move higher towards $3,445–$3,450 per ounce in the coming sessions. ' On the domestic front, support lies near Rs.96,000 per 10gm, while prices are expected to head towards Rs.98,800 per 10gm initially. A breakout above this could pave the way for a retest of the Rs.1,00,000 mark. All eyes would now be on the US June consumer and producer price index data as well as the US Fed meeting lined up towards the end of this month, which is likely to provide further cues for the precious metal. Trade-related headlines will also continue to dominate sentiment and influence gold's trajectory,' Sachdeva said. Sachdeva further recommended investors to remain alert to macro developments, as they will be critical in shaping the next leg of gold's move, as volatility rises.
Mint
05-05-2025
- Business
- Mint
Gold rate today: Yellow metal jumps on easing US-China tariff tension, soft US dollar rates
Gold rate today: Following the downside pressure in the US dollar rates and trade talks not yielding any concrete results, gold prices extended their post-correction rally for yet another session during Monday morning deals. MCX gold rates today opened with an upside gap at ₹ 93,249 and touched an intraday high of ₹ 93,340 per 10 gm within a few minutes of the Opening Bell. US President Donald Trump's U-turn on the US-China tariffs and going soft on the US Fed Chairman Jerome Powell ahead of the US Fed meeting is also aiding this rally, say experts. Speaking on the reasons fueling gold rates today, Jateen Trivedi, VP Research—Commodity & Currency at LKP Securities, said, 'The lack of clarity and shifting stances from the US on ongoing trade discussions have led market participants to unwind short positions in gold, providing fresh upside momentum. With trade talks showing little concrete progress, safe-haven interest is returning gradually.' Pointing towards the US-China tariff tension despite ease in US-China trade war, Sugandha Sachdeva, Founder of SS WealthStreet, said, "While US-China relations seem to be improving, lingering uncertainty around a comprehensive resolution suggests some continued safe-haven demand, especially in the near term. However, if trade optimism persists, the medium-term outlook for gold may face headwinds due to reduced risk premium." She said that any negotiations on tariffs between the US and other countries will provide further triggers for the gold price movement. "Volatility is expected to remain elevated, with gold likely to trade in a broad range of ₹ 92,000 to ₹ 94,500 per 10 gm in the coming sessions," Jateen Trivedi of LKP Securities said. 'Given current market conditions, gold price is likely to remain in a consolidation phase, with near-term support at ₹ 91,700 and resistance around Rs.96,500 per 10 grams,' Sugandha said. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions. First Published: 5 May 2025, 09:12 AM IST
