Prophecy of gold price today: The rate of gold can see a limited reverse; Silver buying time? Here’s the approach
Prophet of gold price today: Analysts are expected to feel a limited reverse in the short term at the rate of gold. As global trade stress shows the signs of becoming easy with progress on US-China business deal negotiations, safe shelter appeal of gold is not as strong yet. What should investors do? What is the approach of gold price for the coming days and should investors focus on silver? Manesh Sharma, AVP – Commodities and Currency, Anand Rathi shares and stock brokers share their views and recommendations:Gold prices ended with marginal gains (weekly near $ 3310) last week, despite the prices increased by more than $ 3400 per ounce last week, as the trade tension between the US and China weighed on emotions and limited its reverse tractary. US President Donald Trump announced that Chinese President Xi Jinping had agreed to resume the export of rare earth minerals and magnets to the United States. The statement was riders on the Air Force, as reported by Reuters, exposing the potential relaxation of trade tension between the two economic veterans. The US also indicated that it could soften some restrictions on technology exports in exchange for that.The growth of modest American jobs in May raised the dollar marginally last week. Nonforms in the United States (US) climbed the payroll (NFP) as the Federal Fund Futures pointed out a major possibility as the US Federal Reserve (Fed) could keep its benchmark interest rate stable in its next two monetary policy meetings.In other reports, the Central Bank of China expanded its gold reserves for the seventh straight month in May, which pursues its dialect to diversify the holdings despite the ups and downs in the ongoing price. According to data released by People’s Bank of China on Saturday, last month added 60,000 Troy ounces to its reserves in its reserves. However, this is what the central bank indicated a slowdown in the pace of accumulation, which did not increase in any kind of price during the onset of the current week.
gold price
The traders closely monitored the US CPI (May) and PPI (May) data because of any unexpected surprise in the reading can be signs of delayed rate increase that mute emotions.Market focus has also been decided on London discussions, where the US and Chinese authorities have indicated progress in the trade deal.Meanwhile, last week, a 13 -year high -level breakout witness Silver finally started joining the rally that began months before sleeping. Since last week, more than 8% of the steps in silver prices were due to safe shelter demand, with increasing geopolitics on the Russia-Ukraine front, business uncertainties also operated with uncertainties and also operated by industrial demand.
Gold price weekly view: Vigilant reverse (1 – 2 weeks)
We continue to expect limited upside in gold for short -term perspectives because any spike towards $ 3360 – 3390 an ounce (CMP $ 3330 per ounce) is still a sales opportunity for yellow metal.The price of MCX Aug Futures (CMP Rs 97,075/10 g) can trade in a wider range of Rs 98,500 – 95,000 per 10 grams – 95,000 for the coming week. MCX Silver is expected to be stable compared to gold, while 1,04,500 – can trade in a wider range of Rs 1,09,000 per kg. In July, a joint cell gold/buy silver strategy in the futures contract may be less favorable in the medium -term perspective as a silver strategy.The current year is ready to improve silver gold as we hope that the current year will continue to increase the range of $ 38.70 – 41.50 per ounce in international spot markets (CMP $ 36.65 per ounce). It translates to a level of Rs 1,15,000 – 1,23,000 per kg. In 2025, the MCX Futures Market provided about 15 – 20% more returns from existing levels.(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)
