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Time of India
20-06-2025
- Business
- Time of India
Gold price prediction: Meltdown as prices fall by Rs 600/10 gram amid profit booking. Can bulls stage a comeback?
Gold prices fell on Friday as investors took refuge in the greenback amid growing tensions between Israel and Iran. Moreover, a status quo on the US interest rate has helped the dollar index (DXY) strengthen, reducing some appeal in the yellow metal. The domestic gold prices fell sharply taking cues from the international prices. Gold rate today On the MCX, the August Gold futures were trading at Rs 98,664, down by Rs 665 or 0.67% from the Thursday closing price. Meanwhile, gold contracts on the COMEX were hovering around $3,367.20 per troy ounce, plunging by $40.90 or 1.20%. The movement in gold rates are inversely related to the dollar movement. When the Federal Reserve cuts interest rates, the returns on dollar-denominated assets like the US treasury bonds or savings accounts become less attractive and hence global investors may move their money to countries with higher interest rates, reducing demand for USD. Commenting on the action, Pranav Mer, Vice President, EBG - Commodity & Currency Research at JM Financial Services said that the breather this week was on profit-booking, after the U.S. Fed's hawkish comments on interest rates and easing geo-political risk premium. The Street awaits U.S. President Donald Trump's decision if the US will enter the Iran-Israel war in two weeks. "On charts prices may find some resistance around Rs 99,300-99,650, while on the downside support is seen at Rs 98,000-97,650," Mer said. The price of physical gold in Delhi-NCR market is still above the Rs 1 lakh mark. This includes a 3% GST levy. Renisha Chainani, Head - Research at Augmont also sees profit-booking in gold after record highs of Rs 1,01,078 per 10 gram on the MCX. "Precious metals have reversed as support from growing geopolitical tensions in the Middle East is offset by a stronger dollar overall and the possibility of fewer interest rate reductions from the US," Chainani said. Technical triggers "Gold prices are consolidating around record-high levels in the range of Rs 99,000($3,360) and Rs 101,000 ($3,475). Despite the Fed's hawkish tone, ongoing geopolitical tensions between Iran and Israel continue to offer downside protection for gold, Jateen Trivedi, Vice President Research Analyst - Commodity and Currency, LKP Securities opines. "The broader trend remains range-bound to positive, with a key support level seen at $3,290, and strong resistance near $3,500 on Comex. Unless there is a clear resolution on geopolitical fronts or a shift in Fed commentary, gold is likely to stay buoyant within this broad band," he added. Silver price today The July silver futures plunged by Rs 1,395 or 1.3% and were trading around Rs 1,05,998. On the COMEX, silver contracts fell by $1.128 or 3.06% per troy ounce to trade around $35.78. Silver prices have retraced from its high, next support is Rs 105,300($35.50), said Chainani, adding that prices should sustain this support for the bull trend to continue. If this support is broken, the next downside level is Rs 104,000 ($34.50), he added. Also Read: Commodity Radar: MCX crude oil futures cross 200-DMA amid Israel-Iran tension. Can it breach this crucial resistance zone? ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Economic Times
20-06-2025
- Business
- Economic Times
Gold price prediction: Meltdown as prices fall by Rs 600/10 gram amid profit booking. Can bulls stage a comeback?
Gold prices fell on Friday as the dollar strengthened amid US Fed's hawkish stance and cooling geopolitical tensions between Israel and Iran. Profit-booking also weighed on sentiment, with gold dropping on both MCX and COMEX. Tired of too many ads? Remove Ads Gold rate today Tired of too many ads? Remove Ads Technical triggers Silver price today Tired of too many ads? Remove Ads Gold prices fell on Friday as investors took refuge in the greenback amid growing tensions between Israel and Iran. Moreover, a status quo on the US interest rate has helped the dollar index (DXY) strengthen, reducing some appeal in the yellow metal. The domestic gold prices fell sharply taking cues from the international the MCX, the August Gold futures were trading at Rs 98,664, down by Rs 665 or 0.67% from the Thursday closing price. Meanwhile, gold contracts on the COMEX were hovering around $3,367.20 per troy ounce, plunging by $40.90 or 1.20%.The movement in gold rates are inversely related to the dollar movement. When the Federal Reserve cuts interest rates, the returns on dollar-denominated assets like the US treasury bonds or savings accounts become less attractive and hence global investors may move their money to countries with higher interest rates, reducing demand for on the action, Pranav Mer, Vice President, EBG - Commodity & Currency Research at JM Financial Services said that the breather this week was on profit-booking, after the U.S. Fed's hawkish comments on interest rates and easing geo-political risk Street awaits U.S. President Donald Trump's decision if the US will enter the Iran-Israel war in two weeks."On charts prices may find some resistance around Rs 99,300-99,650, while on the downside support is seen at Rs 98,000-97,650," Mer price of physical gold in Delhi-NCR market is still above the Rs 1 lakh mark. This includes a 3% GST Chainani, Head - Research at Augmont also sees profit-booking in gold after record highs of Rs 1,01,078 per 10 gram on the MCX."Precious metals have reversed as support from growing geopolitical tensions in the Middle East is offset by a stronger dollar overall and the possibility of fewer interest rate reductions from the US," Chainani said."Gold prices are consolidating around record-high levels in the range of Rs 99,000($3,360) and Rs 101,000 ($3,475).Despite the Fed's hawkish tone, ongoing geopolitical tensions between Iran and Israel continue to offer downside protection for gold, Jateen Trivedi, Vice President Research Analyst - Commodity and Currency, LKP Securities opines. "The broader trend remains range-bound to positive, with a key support level seen at $3,290, and strong resistance near $3,500 on Comex. Unless there is a clear resolution on geopolitical fronts or a shift in Fed commentary, gold is likely to stay buoyant within this broad band," he July silver futures plunged by Rs 1,395 or 1.3% and were trading around Rs 1,05,998. On the COMEX, silver contracts fell by $1.128 or 3.06% per troy ounce to trade around $ prices have retraced from its high, next support is Rs 105,300($35.50), said Chainani, adding that prices should sustain this support for the bull trend to continue. If this support is broken, the next downside level is Rs 104,000 ($34.50), he added.
Economic Times
14-06-2025
- Business
- Economic Times
Gold price above Rs 1 lakh. Will Quant MF prediction come true?
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Amid safe-haven buying due to Israel-Iran tensions and weakness in the dollar index, gold August futures contracts at MCX surged sharply higher by Rs 2,011 or 2.04%, crossing the 1 lakh mark at Rs 1,00,403/10 grams on yellow metal's rally seems unstoppable, but a tone of caution still persists as industry experts recently stated that they foresee a potential near-term correction for the yellow metal Quant Mutual Fund , in a recent note, has highlighted that gold may be due for a short-term correction of 12-15% in dollar terms over the next two months. The fund cautioned investors that the metal may have "peaked out" in the short term, noting that while gold prices have surged recently, the momentum could slow down, and a retracement in prices could be on the Mutual Fund's outlook aligns with broader commodity sentiment, as the firm continues to advise investors to retain exposure to precious metals over the medium to long with the ongoing momentum, what does the future outlook of gold looks like?Despite the anticipated correction, Quant MF itself maintains a constructive view on gold in the longer run, citing its portfolio strategy centered on cyclical awareness and liquidity stated by the firm, 'Our medium-term and long-term views are equally constructive and we reiterate that a meaningful percentage of your portfolio should be dedicated towards precious metals.'Adding to the outlook on gold, Renisha Chainani, Head of Research at Augmont, shared her views on gold prices in India. She expressed a cautiously positive medium-term outlook for gold, forecasting prices to stabilize at Rs 97,000 per 10 to Chainani, the metal's price reflects significant gains over the past year, driven by global geopolitical tensions and central bank buying. However, Chainani anticipates a potential consolidation or a minor correction, with gold possibly dipping to Rs 90, this, she emphasized that such a dip could present a buying opportunity, particularly if global interest rates remain paused and geopolitical tensions further elaborated, 'The fact that central banks (particularly in emerging markets) still show a strong appetite to buy gold and the safe haven asset status for gold remains intact suggests that the appetite for gold will likely persist.'Looking ahead, Chainani anticipates that unless there is a sudden shift in global risk sentiment or aggressive monetary tightening, gold will likely remain firm, potentially heading towards Rs 1,05,000 in the medium a similar sentiment, Manav Modi, Senior Analyst at Motilal Oswal Financial Services , discussed gold's performance in 2025, noting that the yellow metal has surged more than 30% since the beginning of the year, but has also faced significant attributed the volatility to factors such as President Trump's tariff updates, geopolitical tensions, and concerns over global growth. He explained that while tariffs between the US and China were initially introduced and later reduced, the overall uncertainty in the market, coupled with weak economic data points from the US, continued to support gold a longer-term perspective, Modi sees strong support for gold around Rs 88,000-90,000 per 10 grams, suggesting that investors can maintain a "buy on dips" stance. He projected gold prices could reach Rs 1,00,000-Rs 1,06,000 over the next 12-15 months, provided that key support levels near-term corrections may be imminent, gold's long-term appeal remains intact. Analysts agree that geopolitical risks, central bank actions, and broader economic uncertainties continue to favor gold as a safe-haven asset.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
14-06-2025
- Business
- Time of India
Gold price above Rs 1 lakh. Will Quant MF prediction come true?
Amid safe-haven buying due to Israel-Iran tensions and weakness in the dollar index, gold August futures contracts at MCX surged sharply higher by Rs 2,011 or 2.04%, crossing the 1 lakh mark at Rs 1,00,403/10 grams on Friday. The yellow metal's rally seems unstoppable, but a tone of caution still persists as industry experts recently stated that they foresee a potential near-term correction for the yellow metal . Quant Mutual Fund , in a recent note, has highlighted that gold may be due for a short-term correction of 12-15% in dollar terms over the next two months. The fund cautioned investors that the metal may have "peaked out" in the short term, noting that while gold prices have surged recently, the momentum could slow down, and a retracement in prices could be on the horizon. Quant Mutual Fund's outlook aligns with broader commodity sentiment, as the firm continues to advise investors to retain exposure to precious metals over the medium to long term. However, with the ongoing momentum, what does the future outlook of gold looks like? Despite the anticipated correction, Quant MF itself maintains a constructive view on gold in the longer run, citing its portfolio strategy centered on cyclical awareness and liquidity trends. As stated by the firm, 'Our medium-term and long-term views are equally constructive and we reiterate that a meaningful percentage of your portfolio should be dedicated towards precious metals.' Adding to the outlook on gold, Renisha Chainani, Head of Research at Augmont, shared her views on gold prices in India. She expressed a cautiously positive medium-term outlook for gold, forecasting prices to stabilize at Rs 97,000 per 10 grams. According to Chainani, the metal's price reflects significant gains over the past year, driven by global geopolitical tensions and central bank buying. However, Chainani anticipates a potential consolidation or a minor correction, with gold possibly dipping to Rs 90,000. Despite this, she emphasized that such a dip could present a buying opportunity, particularly if global interest rates remain paused and geopolitical tensions de-escalate. Chainani further elaborated, 'The fact that central banks (particularly in emerging markets) still show a strong appetite to buy gold and the safe haven asset status for gold remains intact suggests that the appetite for gold will likely persist.' Looking ahead, Chainani anticipates that unless there is a sudden shift in global risk sentiment or aggressive monetary tightening, gold will likely remain firm, potentially heading towards Rs 1,05,000 in the medium term. Echoing a similar sentiment, Manav Modi, Senior Analyst at Motilal Oswal Financial Services , discussed gold's performance in 2025, noting that the yellow metal has surged more than 30% since the beginning of the year, but has also faced significant swings. Modi attributed the volatility to factors such as President Trump's tariff updates, geopolitical tensions, and concerns over global growth. He explained that while tariffs between the US and China were initially introduced and later reduced, the overall uncertainty in the market, coupled with weak economic data points from the US, continued to support gold prices. From a longer-term perspective, Modi sees strong support for gold around Rs 88,000-90,000 per 10 grams, suggesting that investors can maintain a "buy on dips" stance. He projected gold prices could reach Rs 1,00,000-Rs 1,06,000 over the next 12-15 months, provided that key support levels hold. While near-term corrections may be imminent, gold's long-term appeal remains intact. Analysts agree that geopolitical risks, central bank actions, and broader economic uncertainties continue to favor gold as a safe-haven asset. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
13-06-2025
- Business
- Time of India
Gold Price Prediction: Gold hits record high of Rs 1,00,403/10g on Iran-Israel tensions; can the uptrend continue?
Live Events What analysts say? How to trade gold? Manoj Kumar Jain suggested the following ranges for gold and silver on MCX: Gold rates in physical markets Gold Price today in Delhi Gold Price today in Mumbai Gold Price today in Chennai Gold Price today in Hyderabad (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Amid safe-haven buying triggered by Israel-Iran tensions and weakness in the dollar index, gold August futures contracts on the MCX opened sharply higher by Rs 2,011 or 2.04%, crossing the Rs 1 lakh mark to trade at Rs 1,00,403 per 10 grams on silver July futures contracts also showed strength, opening higher at Rs 1,06,695 per kg, up by Rs 810 or 0.76%.On Thursday, both gold and silver settled on a positive note in domestic and international markets. Gold August futures settled at Rs 98,392 per 10 grams, gaining 1.75%, while silver July futures settled at Rs 1,05,885 per kg, up 0.47%.Prices of both metals surged again amid escalating tensions in the Middle East between Israel and Iran. Safe-haven demand lifted gold prices past the $3,400 per troy ounce mark globally. In Indian markets, gold futures crossed the Rs 1 lakh per 10 grams level for the first time dollar index also fell, supporting prices of precious metals. Today, the US Dollar Index, DXY, was hovering near the 98.23 mark, down by 0.31 or 0.32%.The escalation in the Middle East has also led to rising concerns over potential disruptions in global oil supplies, particularly through critical routes like the Strait of Israeli government confirmed early on Friday that it had launched airstrikes against Iran, with explosions reported in Tehran. These strikes were part of Israel's ongoing efforts to cripple Iran's nuclear infrastructure and ballistic missile the U.S. PPI and Core PPI data released on Thursday indicate taming inflation in the U.S. and give some room to the U.S. Fed for interest rate cuts. The U.S. jobless claims surged to 248,000 and also supported prices of precious metals.'Gold prices hit 6-week highs and prices sustaining above $3,400 could show further strength in the upcoming session,' said Manoj Kumar Jain of Prithvifinmart Commodity Research.'We expect gold and silver prices to remain volatile in today's session amid volatility in the dollar index and geo-political tensions; gold prices could hold its key support level of $3,330 per troy ounce and silver prices could also hold $35.00 per troy ounce levels on a weekly closing basis,' he Chainani, Head of Research at Augmont, stated that unless there is a sudden shift in global risk sentiment or aggressive monetary tightening, gold will likely remain firm, potentially heading towards Rs 1,05,000 in the medium Modi, Senior Analyst at Motilal Oswal Financial Services , commenting on gold's performance in 2025, highlighted that the yellow metal has risen over 30% since the start of the year, though it has also experienced significant pointed to factors such as President Trump's tariff changes, geopolitical tensions, and concerns about global growth as the causes of this volatility. While the initial US-China tariffs were imposed and later reduced, the ongoing market uncertainty and weak US economic data have continued to support gold at the long term, Modi sees strong support for gold in the range of Rs 88,000-90,000 per 10 grams and recommends a "buy on dips" approach for investors. He predicts that gold prices could reach Rs 1,00,000-1,06,000 in the next 12-15 months, assuming key support levels remain intact.- Gold has support at Rs 98,000-97,650 and resistance at Rs 99,000-99,600- Silver has support at Rs 1,05,000-1,04,200 and resistance at Rs 1,07,000-1,07,700Jain suggests buying gold above Rs 98,500 with a stop loss of Rs 98,000 for a target of Rs 99,500 and also suggests buying silver around Rs 1,05,000 with a stop loss of Rs 1,03,800 for a target of Rs 1,07, Rahul Kalantri, VP – Commodities at Mehta Equities, stated that gold has support at Rs 97,920-97,490 while resistance is at Rs 99,650-1,00,640. Silver has support at Rs 1,05,559-1,05,050 while resistance is placed at Rs 1,07,730-1,08, gold (22 carat) prices in Delhi stand at Rs 57,288/8 grams while pure gold (24 carat) prices stand at Rs 61,064/8 gold (22 carat) prices in Mumbai stand at Rs 56,944/8 grams while pure gold (24 carat) prices stand at Rs 60,760/8 gold (22 carat) prices in Chennai stand at Rs 56,912/8 grams while pure gold (24 carat) prices stand at Rs 60,608/8 gold (22 carat) prices in Hyderabad stand at Rs 56,840/8 grams while pure gold (24 carat) prices stand at Rs 60,544/8 grams.
