MCX Gold Rate Ended Marginally Lower by 13, or 0.01%, at 99,096 per 10 grams on Friday. During the session, Gold Pries Hit An Intraday High of 99,198, and touched a low of 98,431 Level. For the week, MCX Gold Price Declined Over 1%.
MCX Silver Price Gained 51, or 0.05%, to close at 1,06,275 per kg. Silver Rates Hit An Intraday High of 1,06,695, and a low of 1,05,053.
In the global markets, spot gold prices fell 0.2% to $ 3,365.51 an oounce, while the index was down 1.8% for the week. Us Gold Futures Shed 0.7% to $ 3,385.50. SPOT SILVER PRICES Fell 1.1% to $ 35.98 per oourage, and ware down 0.9% for the week.
“Gold Prisis Dropped as Investors Balanced Expectations of Us Federal Reserve Rate Cuts Against Escalating Geopolitical Tensions in the Middle East. Pressure Gold, “Said Jigar Trivedi, Senior Research Analyst at Reliance Securities.
President Trump is expected to Decide with the next two weeks wheether the united states will intervene in the ongoing israel-iran air conflict, the white house stated Gold, Traditionally Regarded as a Safe-Hen Asset, Often Gains during Periods of Heightened Geopolitical and Economic Uncertainty.
Meanwhile, US Fed Policymakers Project a Total of 50 Basis Points Rate Cuts for 2025. And 2027.
“While Fed Governor Christopher Waller Opened The Door to Potential Rate Cuts as Early as July, Fed Chair Jerome Powell MainTailed a Cauce, Data-Driven Stance. Uncertainty, Limiting Gold’s UPSIDE EVID GEOPOLITICAL Stress, “Trivedi said.
Gold Price Outlook
Next week, focus will remain on the israel -ran conflict, particularly any signs of us military involvement. Moreover, Fed Chair Powell’s Testimony Before Congress will also be on investors’ Radar along with a Slew of Macroeconomic Data that will influence the Gold Prices.
While Geopolitical Tensions Support Gold in the Short Term, Markets May Remain Reactive and Headline-Driven. Investors will look for any shift a shift a shift a more dovish or hawkish tone, especia Recent mixed comments from Fed Officials, “Said Jigar Trivedi.
Additionally, any sustained strength in the greenback count keep bullion pris under pressure, despite safe-han flows, he added.
“MCX Gold August Futures Find Immediate Support Near 97,000 per 10 grams. With Macro Headwinds in Play, We Maintain a Sell-On-Rise Strategy, Especially Around Technical Resistance Zones, “said Trivei.
Gold Pries Remain Caught Between Opposing Forces: Geopolitical Risks Providing Support, and Robust Us Data Along with Fed Policy Unceerty Capping Gains. Trivedi Advises Traders to Stay Cutious Ahead of Key Economic Events, with the potential for breakout or consolidation depending on how these narration unfold.
Disclaimer: The views and recommendations made about individual analysts or broking companies, and not of Mint. We Advise Investors to Check With Certified Experts Before Making Any Investments Decisions.
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