Gold Price Prediction Today

Global gold prices have been on a rollercoaster, touching new highs only to retreat as trade uncertainties cast a shadow over the yellow metal's future. The India-Pakistan conflict has spurred some safe-haven buying, adding another layer of complexity to the market's dynamics.

What's next for gold rates this week? Maneesh Sharma, AVP - Commodities & Currencies at Anand Rathi Shares and Stock Brokers, provides insights into the key events influencing gold prices and offers actionable advice for investors.

Market Movements and Trade Deal Impacts

Gold experienced a rebound last week, closing at $3325 per oz, as optimism from the US-China trade discussions led to a 90-day tariff reduction. On the MCX, gold settled near Rs 96,500 per 10 gm, with silver around Rs 96,700 per kilogram, pushing the gold-silver ratio above 100:1.

US stocks saw gains following the deal, where duties were significantly reduced, easing some pressure on gold. However, the Fed's ambiguous stance on rate cuts has left markets guessing, with traders now anticipating fewer cuts than previously expected.

Looking Ahead: Key Factors to Watch

With US-China trade tensions cooling, the focus shifts to upcoming US macroeconomic indicators and Fed Chair Powell's upcoming speech, which could sway gold prices. Geopolitical developments, including potential Russia-Ukraine peace talks, also remain critical.

Silver, buoyed by industrial demand, may see limited downside as trade deal optimism persists. The specifics of the US-China agreement, particularly those affecting industrial trade, will be closely monitored.

Investment Strategy

For MCX Gold June, Sharma recommends selling on rises within the 94,800 – 95,500 range, with a stop loss around 96,300, targeting 93,000 - 92,500 over 1–2 weeks.

Disclaimer: The views and recommendations presented are those of the experts and do not reflect the stance of The Times of India.