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Mint
17-07-2025
- Business
- Mint
Gold price drops on dollar's rise, silver rates rise; experts unveil strategy for precious metals
Gold price today: Gold rates traded lower in Thursday's early trade in the domestic futures market, pressured by weak global cues and an uptick in the US dollar. Silver prices, however, climbed, supported by healthy spot market demand. Around 9:05 AM, MCX Gold August 5 contracts were 0.30 per cent down at ₹ 97490 per 10 grams, while MCX Silver September 5 contract traded 0.10 per cent up at ₹ 1,11,748 per kg. The dollar's gain and easing tariff-related concerns weigh on gold prices. The dollar index climbed 0.20 per cent, making gold expensive in overseas currencies. Meanwhile, US President Donald Trump denied reports that he was planning to dismiss Federal Reserve Chair Jerome Powell, easing market concerns that Powell's removal would dent the credibility of the US financial system and the dollar's appeal as a safe-haven currency. Powell's term ends in May 2026. Trump has been criticising Powell for not lowering interest rates and, according to media reports, was exploring the possibility of removing him. The Fed, on the other hand, is expected to keep rates unchanged until at least September this year, even though the US Producer Price Index (PPI) remained unchanged in June. However, the US Consumer Price Index (CPI) in June surged to its highest level since February. On the tariff front, Trump said on Wednesday, July 16, that America was close to finalising a trade deal with India. According to Carsten Menke, Head Economics and Next Generation Research, Julius Baer, gold is consolidating as it is missing a trigger to restart the recent rally. "As a result of easing trade tensions and receding recession risks, safe-haven demand started to soften. Central bank buying is still sound, but not as strong as earlier in the year. We still see a longer-term favourable fundamental backdrop," Menke noted. Pointing out silver's recent rally, Menke said its catch-up potential to gold seems to be exhausted. "Judging by the strength of the recent rally and the decline of the gold/silver ratio to around 85, silver does not appear particularly cheap anymore in comparison to gold. When the ratio was at 100, we highlighted silver's catch-up potential, but this seems to be very much exhausted as of now. We lift our 3- and 12-month price targets to $37 and $40 per ounce, but nonetheless downgrade our view to neutral," said Menke. Manoj Kumar Jain of Prithvifinmart Commodity Research suggests buying gold and silver on dips. "We suggest buying gold on dips around ₹ 97,300 with a stop loss of ₹ 96,850 for the target of ₹ 98,100 and also suggest buying silver around ₹ 1,10,800 with a stop loss of ₹ 1,09,900 for the target of ₹ 1,12,800," said Jain. "Gold has support at $3,340-3,327, while resistance is at $3,374-3,389 per troy ounce, and silver has support at $37.80-37.40, while resistance is at $38.40-38.70 per troy ounce in today's session. MCX Gold has support at ₹ 97,440-97,100 and resistance at ₹ 98,080-98,400 while silver has support at ₹ 1,10,800-1,10,000 and resistance at ₹ 1,12,400-1,13,100," said Jain. According to Rahul Kalantri, VP of commodities at Mehta Equities, gold has support at $3,315-3,290 while resistance is at $3,360-3,380. Silver has support at $37.40-37.10 while resistance is at $38.20-38.45. In INR, Kalantri said gold has support at ₹ 97,320-96,980 while resistance is at ₹ 97,980-98,280. Silver has support at ₹ 1,10,280-1,09,450 while resistance at ₹ 1,11,950-1,13,000. Read all market-related news here Read more stories by Nishant Kumar Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
Mint
16-07-2025
- Business
- Mint
Gold price today: Rates rise on tariff uncertainty; US PPI prints in focus; experts unveil strategy for MCX Gold, Silver
Gold price today: Gold rates rose in the domestic futures market Wednesday (July 16) morning, tracking positive global cues and weakness in the US dollar. Silver also traded with gains, supported by healthy demand in the spot market. Around 9:10 AM, MCX Gold August 5 contracts traded 0.19 per cent higher at ₹ 97,400 per 10 grams, while MCX Silver was 0.20 per cent higher at ₹ 1,11,705 per kg. Investors' focus is on the US Producer Price Index (PPI) data due on Wednesday, for more cues on inflation trends in the US. On July 15, government data showed the US inflation in June surged to its highest level since February, led by President Donald Trump's tariff policies. The Labor Department reported on Tuesday that consumer prices rose 2.7 per cent in June year-on-year. Month-over-month, inflation climbed 0.3 per cent, accelerating from a 0.1 per cent rise the previous month. As the full impact of Trump's tariffs is expected to be visible later in the year, the uptick in June inflation numbers indicates that the US Fed may not pursue rate cuts anytime soon. "June 2025 CPI was the first print to show signs of tariffs being passed through, despite disinflation in some categories holding down core CPI. Despite pressure on the Fed likely to be ratcheted up, it is almost certain to stay pat in July, with rate cuts resuming (if at all) only later in the year," said Madhavi Arora, Lead Economist, Emkay Global Financial Services. While a delayed Fed rate cut is negative for gold, Trump's tariffs remain a key positive for the yellow metal. In the last few days, the US President has announced tariffs against several of the country's key trading partners, including Canada and the European Union. Trump has signalled significant progress towards a trade deal with India, declaring confidently, 'We're going to have access into India,' even as the details remain under negotiation. (This is a developing story. Please check back for fresh updates.)
New Straits Times
16-07-2025
- Business
- New Straits Times
Gold nudges higher as focus turns to US tariff negotiations
NEW YORK: Gold prices edged higher on Wednesday, as investors digested economic data showing an increase in US consumer prices last month and awaited further clarity on US President Donald Trump's trade policy. FUNDAMENTALS * Spot gold was up 0.3 per cent at US$3,330.99 per ounce, as of 0052 GMT. US gold futures were steady at US$3,337.70. * US consumer prices increased in June by the most in five months amid higher costs for some goods, suggesting tariffs were starting to have an impact on inflation and potentially keeping the Federal Reserve on the sidelines until September. * Following the data, Trump said that consumer prices were low and the US Fed should bring down interest rates now. * The US central bank will probably need to leave interest rates where they are for a while longer to ensure inflation stays low in the face of upward pressure from the Trump administration's tariffs, Dallas Fed Bank President Lorie Logan said. * Gold, often considered as a safe-haven asset during times of economic uncertainties, tends to do well in a low-interest-rate environment. * Focus now shifts to US Producer Price Index data due at 1230 GMT on Wednesday for more cues. * Trump on Saturday threatened to impose a 30 per cent tariff on imports from Mexico and the European Union starting on August 1. However, Trump said on Monday he was open to further negotiations. * Keeping gold gains in check, the dollar and benchmark US 10-year Treasury yields held near multi week highs. * Spot silver gained 0.2 per cent to US$37.81 per ounce after hitting its highest level since September 2011 on Monday. Platinum eased 0.2 per cent to US$1,369.42 and palladium slipped 0.6 per cent to US$1,198.62.
Business Times
16-07-2025
- Business
- Business Times
Gold nudges higher as focus turns to US tariff negotiations
[BENGALURU] Gold prices edged higher on Wednesday (Jul 16), as investors digested economic data showing an increase in US consumer prices last month and awaited further clarity on US President Donald Trump's trade policy. Spot gold was up 0.3 per cent at US$3,330.99 per ounce, as at 0052 GMT. US gold futures were steady at US$3,337.70. US consumer prices increased in June by the most in five months amid higher costs for some goods, suggesting tariffs were starting to have an impact on inflation and potentially keeping the Federal Reserve on the sidelines until September. Following the data, Trump said that consumer prices were low and the US Fed should bring down interest rates now. The US central bank will probably need to leave interest rates where they are for a while longer to ensure inflation stays low in the face of upward pressure from the Trump administration's tariffs, Dallas Fed Bank President Lorie Logan said. Gold, often considered as a safe-haven asset during times of economic uncertainties, tends to do well in a low-interest-rate environment. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Focus now shifts to US Producer Price Index data due at 1230 GMT on Wednesday for more cues. Trump on Saturday threatened to impose a 30 per cent tariff on imports from Mexico and the European Union starting on Aug 1. However, Trump said on Monday he was open to further negotiations. Keeping gold gains in check, the US dollar and benchmark US 10-year Treasury yields held near multi-week highs. Spot silver gained 0.2 per cent to US$37.81 per ounce after hitting its highest level since September 2011 on Monday. Platinum eased 0.2 per cent to US$1,369.42 and palladium slipped 0.6 per cent to US$1,198.62. REUTERS
Business Standard
15-05-2025
- Business
- Business Standard
US dollar index slackens ahead of PPI data
The US dollar index slipped weak, adding to latest string of losses as a drop from one-month highs extended. The US dollar index pulled back near 100 mark yesterday before rising a bit and currently quotes at 100.61, down 0.27% on the day. Markets are eying release of the US Producer Price Index (PPI) data after recent drop in consumer price index (CPI). US CPI Data for April released earlier this week showed that annual inflation rate in the United States fell to 2.3%, testing lowest in four years. Powered by Capital Market - Live News
