Gold Price Prediction: Will Gold Hit Rs 1,10,000 Per 10 grams? Here's What Experts Say
Gold and silver saw sharp volatility on Thursday, initially falling after a US Federal Court blocked Trump's tariff plan; Good time to invest?
Gold Price Prediction: Investors booked profits in gold on Friday, May 30, as June MCX gold futures opened lower by Rs 592, or 0.62%, at Rs 94,797 per 10 grams, amid concerns about Trump-era tariffs and volatile trade. This was despite supportive preliminary GDP data showing an economic contraction, which had earlier boosted gold's safe-haven appeal.
Analysts remain bullish on gold, projecting a potential rise to Rs 1,10,000 per 10 grams within a year, citing gold's consistent track record of delivering solid long-term returns.
On Thursday, gold and silver futures closed higher in domestic and global markets. Gold June futures settled at Rs 95,389/10g with a 0.12% gain, and silver July futures at Rs 97,826/kg, up 0.59%.
However, on Friday, silver July futures at MCX also opened lower by Rs 884, or 0.9%, at Rs 96,942/kg.
Gold and silver saw sharp volatility on Thursday, initially falling after a US Federal Court blocked Trump's tariff plan. However, prices recovered after President Trump announced plans to appeal the ruling. Meanwhile, the dollar index slipped as US jobless claims rose more than expected, lending support to bullion prices.
Currently, the US Dollar Index (DXY) is hovering near 99.44, up 0.16%.
US jobless claims increased last week to 240,000, higher than expectations of 229,000. Preliminary GDP data also signaled contraction, adding to gold's safe-haven demand.
Manoj Kumar Jain of Prithvifinmart Commodity Research expects gold and silver prices to remain volatile, driven by dollar index fluctuations, geopolitical tensions, and key US data releases. 'Gold could hold support at $3,250/oz and silver at $32.80/oz on a weekly closing basis," he said.
Rahul Kalantri, VP Commodities at Mehta Equities Ltd., noted that while gold plunged initially after the US court ruling, prices bounced back amid growing economic concerns. 'Gold has support at $3,274-3,255 and resistance at $3,322-3,340; silver's support is at $32.82-32.65 and resistance at $33.35-33.55," Kalantri said. In INR terms, gold has support at Rs 94,910-94,580 and resistance at Rs 95,750-95,940. Silver's support is at Rs 96,480-95,750, with resistance at Rs 97,950-98,750.
Trading Strategy
Manoj Kumar Jain suggests:
Gold price prediction
Angel One expects gold to continue delivering strong returns, projecting a price of $4,000/oz internationally and Rs 1,10,000/10g domestically within a year. They suggest accumulating around Rs 85,000/10g for long-term investment.
First Published:
May 30, 2025, 14:06 IST
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
23 minutes ago
- Business Standard
DoT issues ₹7,800 cr demand notice to Tata Communications over AGR dues
The Department of Telecom has issued a "show-cause-cum-demand notice" of about Rs 7,800 crore to Tata Communications over adjusted gross revenue dues, according to an official note by the company. The demand has been raised by the Department of Telecom (DoT) for adjusted gross revenue (AGR) from 2005-06 till 2023-24, as per the note dated July 17. "As at June 30, 2025, the company has received 'Show Cause-cum Demand Notices' ('demand notices') from Department of Telecommunications of India aggregating to Rs 7,827.55 crore for financial years ranging from FY 2005-06 to FY 2023-24, which have been revised over a period of time," Tata Communications Managing Director AS Lakshminarayan said. He said the demand notices include Rs 276.68 crore towards disallowance of deductions claimed by the company on payment basis for the financial year (FY) 2010-11 under ISP (internet service provider) licence and FY07 and FY10 under NLD (national long distance) licence. Tata Communications has existing appeals relating to its ILD (International Long Distance), NLD, and ISP licences that were filed in the past and are pending at the Supreme Court and telecom tribunal TDSAT. Lakshminarayan said the company's appeals are not covered by the apex court judgement dated October 24, 2019, on AGR under the old telecom licence regime called UASL. "Further, the company believes that all its licences are different from UASL, which was the subject matter of Hon'ble Supreme Court judgement of October 24, 2019. The company, based on its assessment and independent legal opinions, believes that it will be able to defend its position," Lakshminarayan said. As per initial calculation by the government, telecom operators had liability to pay around Rs 1.65 lakh crore in total AGR dues till FY19. The calculation as of March 2022 showed that the AGR liability on Bharti Airtel was Rs 31,280 crore, Vodafone Idea Rs 59,236.63 crore, Reliance Jio Rs 631 crore, BSNL Rs 16,224 crore, MTNL Rs 5,009.1 crore up to financial year 2018-19. The government calculation at that time did not include liability on Tata Communications. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Time of India
an hour ago
- Time of India
CPM accuses Union govt of neglecting working class, favouring corporates
Mysuru: CPM state executive secretary U Basavaraj on Sunday accused the Union govt of adopting pro-corporate friendly policies, neglecting the interests of farmers, labourers, and other working-class people in the nation. The Union govt is giving a red carpet welcome to corporate houses, while the common people were affected by inflation and the rise in prices of essential commodities, he stated. He was addressing a rally organised by the district unit of CPM at Gandhi Square in the city. He said that even though the Union govt mobilised over Rs 50 lakh crore revenue every year from the states, with Karnataka contributing Rs 4 lakh crore in the form of tax, the Union govt has failed to protect the interest of the working class to curb inflation. He accused the Union govt of giving a red carpet welcome to corporate houses to loot the forest and mining resources of the nation when the common people were affected by inflation. Basavaraj also stated that even though the Union govt is distributing free ration to the poor under the public distribution system to over 80 crore people, people are dying from hunger. India ranked 105th in the Global Hunger Index, he stated, adding that still 45%t of the population are unemployed. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Pune: Unsold Furniture Liquidation 2024 (Prices May Surprise You) Unsold Furniture | Search Ads Learn More Undo The income gap between the rich and poor has increased at an alarming rate every year. If 10% of the population owns 80% of the resources, while 90% of the population owns only 10% of the property, he said. State executive committee member HS Sunand asked the Union govt to eliminate cross-border terrorism and applauded soldiers for safeguarding the nation. Poor people were affected by inflation. Instead of resolving such genuine issues, the govt is raking up emotive issues to cover their failures, she stated. District CPM secretary Jagadeesh Soorya urged the govt to strengthen govt-run institutions, schools, and public sector banks, besides initiating measures to prevent farmer suicides, and to open govt-run engineering, law colleges, and Mohalla clinics.
Time of India
an hour ago
- Time of India
Kalyana Karnataka growth plan gets a boost
Kalaburagi: Governor Thaawar Chand Gehlot approved the Kalyana Karnataka Regional Development Board's (KKRDB) action plan for 2025-26 on July 24. Speaking to TOI, KKRDB Chairman and Jewargi MLA Ajay Singh said that chief minister Siddaramaiah forwarded the action plan to the Raj Bhavan, which received swift approval. This approval enables the board to implement additional development projects in the welfare sector. In conversation with TOI, Ajay Singh mentioned that the 2023-24 action plan received gubernatorial approval in Dec, followed by the Manjali meeting on Aug 29. By March 31, KKRDB implemented various projects worth 2009 crores across education, health, and infrastructure sectors. For 2024-25, following the board meeting on July 1, the governor approved the action plan in August. Recently, governor Gehlot sanctioned the Rs 5,000 crore action plan for 2025-26, which was formulated on May 10 during a board meeting with MLAs, MPs, and ministers in July's third week. Ajay Singh expressed that this approval would facilitate increased development activities by the board. The planning process incorporates the CDI index identified in Dr Nanjundappa's committee report. The governor approved the action plan detailing grant allocations under micro and macro schemes. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 20 Compelling Reasons to Start Growing Your Own Food Today Learn More Undo Following the KKRDB board meeting on May 10, 2025, the action plan for 2025-26 was structured according to population, encompassing micro, macro, discretionary grants, and administrative expenditure, as stated by Ajay Singh. The action plan, allocated Rs 5,000 crore in accordance with the chief minister's budget, received clearance from the finance department. With the governor's recent approval, the board can now proceed with allocating grants for various development initiatives, according to Ajay Singh. Ajay Singh visited the Raj Bhavan to express gratitude to the governor, whose July approval provided fresh impetus to Kalyana Nadi's development.
