While the latest flare-up in the middle East-MARKED by Fresh Hostilies Between Israel and Iran-Lent Strength to Global Safe-Haveen Demand, Gains Were TEMPERED by the strengthening us dolar and cautoven Sentimening ahead of the US federal reserve’s policy decisions Scheduled for June 18.
Geopolitical unrest drives safe-han surge
Israel has launched Renewed Military Action Against Iran, Escalating Fears of an all-out regional conflict, which, according to manav modi, senior analyst at motilal oswal Services, Has Pusheded Investors Towards Safe-Haven Assets, With Domestic Gold Hovering Around 1 Lakh and International Prisis Near $ 3,500 an Once.
The us has warned of potential involvement, and israel has declared a state of emergency. This geopolitical uncertainty has increased the risk premium across markets. Modi Added That Us Inflation Data Has Come in Softer Than Expected, Yet the Producer Price Index (PPI) Slightly Exced Estimates, Reflecting a Mixed Maxed Macroeconomic ENVIRONMENT.
Aksha Kamboj, Vice President of the India Bullion and Jewellers Association, Said That The Renewed Tensions have overshadowed the recent positive us cpi report, Reducing the Chances of an IMMINENT FED RATES She warned that any collapse in nuclear negotiations between ran and the us could trigger another spike in gold pris.
Additional, Investor Attention is also Fixed on the Upcoming Us Federal Reserve Policy Decision. Despite cooling inflation, the fed is expected to maintain a cautious stance due to uncertainies surrounding us tariff policies and global trade dynamics.
Technical Outlook and Price Projections
NS Ramaswamy, Head of the Commodity desk at Ventura Securities, Noted that Gold is Benefiting from “Risk-off” Sentament.
He added that Global Central Banks are on Track to Accumulate More Than 1,000 Metric Tons of Gold in 2025 – Marking the fourth Consecurable Year of Robust Official Sector Buying, AndersCoring Gold’S Role As AS Strategic Hedge.
Colin Shah, Managing Director of Kama Jewelry, Pointed Out that the Weakening Rupee is Further Fueling Domestic Gold Prices. Although prices crossed 1 Lakh, Shah Expects Resistance in the Short Term and AnatiCipates Some Correction AMID VOLATIY. He projects gold to trade between 1,00,200 and 1,00,500 in the Near Term, with Medium-Term Direction Content on Global Developments.
From a technical standpoint, ventura’s ramaswamy sees key resistance for comex gold at $ 3,476 and forecasts a potential surge to $ 3,540 If currentum sustains. On MCX, August Gold Futures are supported at 98,900, with potential UPSIDE TARGETS Around 1,02,000 in the short term, provided geopolitical risks person.
In International Markets, Support Levels are Seen at $ 3,400 and $ 3,345, While Short-Term Bullym Bullys Targets Remain Intact as Long as SAFE -Haven Flows Dominate
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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