Gold price prediction today: Investors face uncertainty regarding their gold investment decisions due to multiple factors affecting market sentiment. The ongoing geopolitical conflicts, coupled with evolving US-China trade negotiations, have created ambiguity in the precious metals market. What is the gold rate prediction for this week and what should investors do? Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial services Ltd shares his outlook on gold prices:
Gold prices slipped from a two-week high after US President Donald Trump postponed the implementation of 50% tariffs on EU imports to July 9, easing immediate trade tensions and reducing safe-haven demand. This delay came after the EU requested more time for negotiations, leading to a temporary pullback in bullion prices.
However, geopolitical risks continued to support underlying demand, with Russia launching the largest aerial assault of the war on Ukraine and Israel intensifying military strikes in Gaza.
Meanwhile, gold remained under pressure from a stronger US dollar, as the dollar index hovered near the 100 mark amid rising US bond yields and mixed economic data.
A US trade court initially blocked Trump's "Liberation Day" tariffs, only for a federal appeals court to reinstate them a day later, injecting uncertainty into markets. On the economic front, US consumer confidence came in stronger than expected at just under 100, compared to a forecast of 87.1, while core durable goods orders rose 0.2% against expectations of a 0.1% decline.
However, preliminary US GDP remained in negative territory, reinforcing concerns about slowing growth. The April PCE Price Index rose 2.1% year-on-year, slightly below the 2.2% estimate, suggesting softening inflation pressures. Weekly jobless claims exceeded expectations, adding to mixed economic signals.
Minutes from the Fed’s May meeting revealed growing concern about the dual risk of rising inflation and unemployment, with policymakers indicating that rate cuts remain possible later this year but are not imminent. Geo-political tensions are once again on the rise and comments from President Trump’s administration on EU and China are also keeping market participants on edge.
Focus this week will be on US Jobs market data, manufacturing and Services PMI from major economies and Governor Powell’s speech. RBI and ECB monetary policy statements will also be in radar this week.
Gold Trading Strategy : Buy on Dips; Support: 94500-93500; Resistance 96500-97500
(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)
Gold prices slipped from a two-week high after US President Donald Trump postponed the implementation of 50% tariffs on EU imports to July 9, easing immediate trade tensions and reducing safe-haven demand. This delay came after the EU requested more time for negotiations, leading to a temporary pullback in bullion prices.
However, geopolitical risks continued to support underlying demand, with Russia launching the largest aerial assault of the war on Ukraine and Israel intensifying military strikes in Gaza.
Meanwhile, gold remained under pressure from a stronger US dollar, as the dollar index hovered near the 100 mark amid rising US bond yields and mixed economic data.
A US trade court initially blocked Trump's "Liberation Day" tariffs, only for a federal appeals court to reinstate them a day later, injecting uncertainty into markets. On the economic front, US consumer confidence came in stronger than expected at just under 100, compared to a forecast of 87.1, while core durable goods orders rose 0.2% against expectations of a 0.1% decline.
However, preliminary US GDP remained in negative territory, reinforcing concerns about slowing growth. The April PCE Price Index rose 2.1% year-on-year, slightly below the 2.2% estimate, suggesting softening inflation pressures. Weekly jobless claims exceeded expectations, adding to mixed economic signals.
Minutes from the Fed’s May meeting revealed growing concern about the dual risk of rising inflation and unemployment, with policymakers indicating that rate cuts remain possible later this year but are not imminent. Geo-political tensions are once again on the rise and comments from President Trump’s administration on EU and China are also keeping market participants on edge.
Focus this week will be on US Jobs market data, manufacturing and Services PMI from major economies and Governor Powell’s speech. RBI and ECB monetary policy statements will also be in radar this week.
Gold Trading Strategy : Buy on Dips; Support: 94500-93500; Resistance 96500-97500
(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)
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