Prophet of gold price today: In the last few weeks, the rate of gold has been raging and no clear or negative side is clear. Global programs, such as Donald Trump’s tariff trick and geo -political conflict are shaping the movement of gold prices on a daily basis. In such uncertain scenarios, what should investors do? What is the approach to gold prices in the near period? Praveen Singh, Senior Fundamental Research Analyst- Mirai asset share his views and objects in Sharekhan:Gold display:Spot Gold railed rapidly in the week ended on 23 May, which increases the demand for safe shelter due to rating agency Moody downgrating the US credit rating on 17 May and has increased economic uncertainty due to the imposing 50% tariff on European goods since June 1 due to the US President. US President Trump delayed the tariff of 50% European Union on 9 July.Last week, the US dollar slipped on the US dollar index positions, US $. Spot Gold recorded a large weekly advantage of 4.84% as it closed at $ 3357; It increased by 1.89% on Friday. Yesterday, American markets were closed to inspect the Memorial Day holiday, while the London market is observing the Spring Bank Holiday. Tariff Events:On 23 May, President Trump said he would impose 50% tariffs on European goods starting from June 1 as he felt that the US-Europe’s conversation was not going anywhere on business deals. Trump’s threats of tariffs were not limited to Europe only. In fact, they also threatened Samsung and Apple with 25% tariffs if their products are not made in the US. Later, on 25 May, Trump went back to tariff threats to Europe as he extended the deadline on 9 July citing positive talks with European Commission Chairman Ursula von Der Leyen, who said that Europe is ready to pursue negotiations rapidly and decisively. US Dollar Index and Yield:Releasing concerns over the US Economic Outlook amidst tariff uncertainty is a huge weighing on the American bonds and dollars index. Both ten years and thirty -year -old American yields proceeded from the tariff level after the last week. On 22 May, the ten-year-old US yield increased by 4.62%, the highest since February 2025 before making a 50% tariff rate for Europe on Trump. Similarly, since October 2023, the yield of 30 years increased by 5.15%. Ten years and thirty years of yields closed at the highest weekly levels since January 1 and 27, respectively. The US dollar index fell nearly 2% to 99.11, the lowest daily shutdown since April 28, and currently at 99.03, is about 0.07% lower. The index is threatening to dissolve the 97.92 post mutual lower. ETF Holdings:The total known global gold ETF holdings stood at 87.86 stockings till 23 May, about 2% below the summit level of 89.77 sores on April 21; Holdings fell to the lowest level for the fifth straight week since 8 April. However, holdings are still over 6% YTD. Weekly CFTC Gold Data:Hedge Fund managers have increased their fast gold stakes by 7,741 bet-long posts to 118,615, which is the fastest position in four weeks, as the lowest total in total eight weeks. Upcoming data and events:The major US data and reports to be released this week include conference board Consumer Vishwas (May), FOMC Minutes (May 7’s meeting), GDP (1Q Secondary Estimates), Real Personal Expenditure (April), PCE Price Index (April)-Inflation of Fed and Michigan Central University (May Last) and short-term and long-term and long-term inflation expectations. Gold price outlook:After delaying the European tariff on 9 July, gold may fall ahead when President Trump reduces trade tension. On Monday, the metal swung between $ 3324 and $ 3358, relatively a narrow range, as the markets of New York and London were on holidays. Near-term support is seen at $ 3311/$ 3292, followed by $ 3275 and $ 3250. This week, if there is no further development on tariff fronts, data powered volatility is likely to be marked, as the US economic calendar is quite busy. Reducing trade stress can be pushed down further. Traders can sell $ 3365- $ 3371 with a stoploss above the resistance area. However, the negative side may be somewhat limited – the US’s irregular trade policies may be $ 3292/$ 3275 or more on concerns. The improvement in gold prices will then give the opportunity to go longer on yellow metal with stoplaus below $ 3250. Inverted, $ 3365-$ 3371 will open the way for a violation of the resistance area $ 3435. Above $ 3435, $ 3500 all-time will come into high focus.(Disclaimer: Recommendations and views on stock markets and other asset classes given by experts are their own. These opinions do not represent the views of Times of India)
