Gold may trade in tight range as investors eye US macro data, Fed Chair speech: Analysts
are likely to remain range-bound in the coming week as investors await clarity on global
trade negotiations
, upcoming US macroeconomic data and signals from the Federal Reserve, analysts said.
Traders will closely watch Fed Chair Jerome Powell's speech and global PMI data from major economies, including the US, UK and Eurozone.
Explore courses from Top Institutes in
Select a Course Category
Technology
Operations Management
Product Management
Degree
Data Science
healthcare
Design Thinking
Others
others
Management
Digital Marketing
Cybersecurity
MCA
Artificial Intelligence
Public Policy
CXO
MBA
Data Science
Data Analytics
Healthcare
Finance
Leadership
PGDM
Project Management
Skills you'll gain:
Duration:
12 Weeks
MIT xPRO
CERT-MIT XPRO Building AI Prod India
Starts on
undefined
Get Details
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
No annual fees for life
UnionBank Credit Card
Apply Now
Undo
The European Central
Bank
's interest rate decision will also be closely tracked for cues on the bullion price trajectory, they said.
Pranav Mer, Vice President, EBG - Commodity &
Currency
Research, JM Financial Services, said that in the week ahead, focus will remain on the trade
negotiation
outcome, Fed official speeches,
US macro data
, including housing market, weekly initial claims, and durable goods orders.
"Gold prices are seen consolidating in a range over the past couple of weeks amid a lack of fresh triggers and recovery in the US Dollar in the given period," Mer said, adding that downside in bullion looks limited as focus remains on the trade negotiations between the US and its trading partners, such as India and China.
Live Events
With the August 1 deadline coming closer, uncertainty around trade talks is likely to support gold's safe-haven demand. Meanwhile, domestic festive demand from August to October is expected to further aid prices, he said.
Last week, the precious metal futures for August delivery rose Rs 200 or 0.2 per cent on the Multi Commodity Exchange.
Prathamesh Mallya, DVP-Research, Non-Agri Commodities and Currencies at Angel One, said gold has rallied by about 2 per cent over the past 10 days in the overseas markets, moving to around USD 3,350 per ounce.
"The positive momentum in gold has been driven by the US President's tariff actions on BRICS nations and possible duties on the EU, increasing investor demand for safe-haven assets," he said.
Jateen Trivedi, Analyst at LKP Securities, said, "US Dollar's strength last week kept gains in gold limited, rupee weakness is likely to cushion downside pressure in the domestic markets. Overall, gold is likely to remain volatile in the near term".
According to NS Ramaswamy, Head of Commodity & CRM at
Ventura
, "If the proper catalysts, such as weaker US dollar, geopolitical risks, robust investor demand, continued central bank purchases materialise, gold could gain another 4-8 per cent in the second half after a strong 26 per cent rise in the first half of 2025".
Last week, silver futures for September delivery hit a record high of Rs 1,15,136 per kilogram on the MCX.
"Silver is maturing from the 'poor man's gold' to a strategic metal for smart investors. With
supply
deficits in the world deepening and demand from EVs, solar, and electronics increasing, fundamentals are in place for a major rally.
"The gold-to-silver ratio of around 90X indicates space for dramatic catch-up. A weakening dollar, persistent inflation, and surging ETF flows are supporting silver's attractiveness," Sandip Raichura, CEO of Retail Broking and Distribution & Director, PL Capital - Prabhudas Lilladher, said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
39 minutes ago
- Time of India
Telangana CM fast-tracks gig workers welfare bill, orders insurance & data registry
Hyderabad: In a move aimed at safeguarding the interests of gig and platform workers, chief minister A Revanth Reddy on Monday directed officials to include provisions for a dedicated welfare fund, accident coverage, and health insurance in the proposed Gig and Platform Workers Welfare Bill. The draft legislation is expected to offer legal recognition and improved social security to thousands of gig workers across the state. Chairing a high-level review meeting at the secretariat, the CM asked senior officials to ensure that comprehensive data on gig workers is maintained online for transparency and effective implementation. He also suggested expanding the scope of the draft bill to better address the needs of this growing segment of the workforce. You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad Officials informed the CM that the draft policy proposes the formation of a welfare board with state govt representation to oversee the implementation of welfare schemes. Revanth made several suggestions to further enhance the impact of the proposed Act, which is likely to become one of the first such state-level frameworks for gig economy workers in the country. Earlier in the day, Revanth also chaired a separate review on the establishment of advanced technology centres (ATCs) under the Telangana Rising-2047 vision. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like If you have a mouse, play this game for 1 minute Navy Quest Undo The CM instructed officials to develop a model ATC in Genome Valley, equipped with training modules in pharmaceuticals, biotechnology, and life sciences tailored to industry needs. He emphasised that training at ATCs should align with the skill demands of emerging sectors. "Ensure the swift completion of all ATCs and offer industry-relevant training. I will personally conduct surprise inspections to monitor progress," he said. Officials informed him that 111 ATCs are being developed in three phases—25 in phase I, 40 in phase II, and 46 in phase III. Of these, 49 centres have already become operational. Revanth also suggested engaging skilled construction firms to fast-track ATC infrastructure. A poster on ATCs was released by the CM at the meeting.
Time of India
39 minutes ago
- Time of India
Govt depts asked to submit action taken reports on RERA Act implementation
1 2 Bhubaneswar: To strengthen the functionality of Odisha Real Estate Regulatory Authority (ORERA), the housing and urban development department, after assigning specific tasks to various agencies and govt departments with timelines, has asked them to submit action taken reports on the same. In a letter to the departments and agencies concerned, Satish Chandra Singh, joint secretary (housing and urban development department), stated that a high-level meeting under the chairmanship of the chief secretary was held on June 17 to discuss the implementation of the RERA Act, 2016. "In this connection, the chief secretary will conduct a review meeting very shortly. It is requested to kindly take necessary action as per the discussions and decisions in the first meeting and furnish action taken reports to the department at the earliest," Singh said. The action taken reports were sought from the revenue and disaster management department, the general administration department, the town planning division of the housing and urban development department and ORERA itself. According to the assignments, the town planning division was asked to make sure that the status of all project approvals is intimated to ORERA on time. For this, the division was asked to prepare a digital tool for real-time data sharing. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Many Are Watching Tariffs - Few Are Watching What Nvidia Just Launched Seeking Alpha Read More Undo The division was given 60 days to complete the task. Similarly, the revenue and disaster management department was asked to constitute a technical group to plan and implement the integration of ORERA 2.0 with the Bhulekh portal. The team will also work to give access to the SUJOG portal to get the list of approved real estate projects. The housing and urban development department itself was tasked with issuing instructions to the respective urban local bodies to deploy their enforcement squad with the ORERA for the execution of orders under the Orissa Demands Recovery Act,1962. On June 5, ORERA had requested the chief secretary, Manoj Ahuja, to consider an eight-point recommendation it made to strengthen the implementation of RERA Act in Odisha. Following the recommendation, the chief secretary held a review meeting on June 17 and issued specific tasks to specific teams. "Proper implementation of the RERA Act is necessary to safeguard homebuyers and regulate the real estate sector. Earlier, there was a monopoly of the developers and agents, but now things are changing and it should improve further," homebuyer Vikrant Swain said.
Time of India
an hour ago
- Time of India
300kmph, radar-proof: Army buys BITS-Hyd students' hostel-built drones
Hyderabad: Bomb-dropping Kamikaze drones — 300kmph, radar-proof. Assembled inside a hostel room of BITS Pilani's Hyderabad campus. The Army buys in. Two 20-year-old engineering students of the institute have stunned India's defence circles by building and selling cutting-edge UAVs to Army units across Jammu, Haryana's Chandimandir, Bengal's Panagarh, and Arunachal Pradesh — all within two months of launching their start-up Apollyon Dynamics. Their mission: reduce India's dependency on imported drones. Jayant Khatri, a mechanical engineering student from Rajasthan's Ajmer, and electrical engineering student Sourya Choudhury from Kolkata built their drones with off-the-shelf parts, customised the systems for Indian terrain, and pitched them to Army officers via cold messages on LinkedIn. You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad "I just started shooting cold emails to whoever I could find… Luckily, a colonel responded and called us to Chandigarh for a demo," Khatri said, speaking to TOI on Monday. What followed was a whirlwind — a live demo of bomb-dropping and racing drones, followed by more demonstrations to military regiments. Orders began flowing in. The company was born. Their standout product: a Kamikaze drone that hits speeds over 300kmph, five times faster than standard commercial UAVs, and delivers 1kg payloads with pinpoint accuracy. "Our drones are not just fast — they can't be detected on radar," said Choudhury. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Do you have a mouse? Desert Order Undo The duo insists every UAV is built in-house with a focus on "ruggedness, reliability and adaptability". "Our shared love of robotics brought us together. We started with a defence-tech club on campus. Then came the orders — that's when we knew we had to go big," Choudhury said. The team now includes six second-year students and is working on next-generation VTOL (Vertical Take-off and Landing)) and fixed-wing platforms to boost mission flexibility. They also offer hands-on training to military personnel — even those with no prior flight experience. "It's heartening to see what they've achieved," said professor Sanket Goel of BITS Pilani. "Their start-up has already secured multiple orders from the armed forces." In "3 Idiots", Joy Lobo's passion for machines died in silence — no support, no takers. In real life, two students built war-ready drones in a hostel room. The Army called back.
