Latest news with #Commodities&Currencies
Time of India
7 days ago
- Business
- Time of India
Gold price prediction today: Where is gold rate headed & is silver a better bet compared to yellow metal right now? Here's the outlook
Gold price prediction today: Gold rates may continue to be range-bound as geopolitical tensions ease and optimism mounts on possible US trade deals with countries on the extension of tariff deadline to August 1, 2025. Tired of too many ads? go ad free now Over the next few days silver may be the preferred option compared to gold, say experts. Naveen Mathur, Director - Commodities & Currencies, Anand Rathi Shares and Stock Brokers shares his views and recommendations for gold investors: Gold price continued to face hurdles near $3350 since last week after the precious metal edged lower since last week as the US June Nonfarm Payrolls (NFP) report altered the US Federal Reserve (Fed) policy expectations. The US NFP came in stronger than expected, rising by 147,000 jobs in June from 144,000 in May (revised from 139,000). Additionally, the Unemployment Rate held steady at 4.1% in June. These reports indicated continued labor market resilience, reducing the possibility of the Fed's near-term monetary accommodation. This, in turn, underpins the US Dollar (USD) and exerts some selling pressure on the non-yielding assets like Gold. On the other hand, renewed geopolitics saw Israel military attacking Houthi targets at three ports and a power plant in Yemen. Defence Minister Israel Katz confirmed the attack, saying they were carried out due to repeated attacks by the Iranian-backed rebel group on Israel. However the same failed to bring in additional upside in prices. Traders brace for the Federal Open Market Committee (FOMC) Minutes later on Wednesday for fresh impetus. Tired of too many ads? go ad free now Gold traders could also closely monitor the developments surrounding tariff policies amid renewed geopolitical tensions seen in the Middle East. Many major US trading partners are seen hurrying to secure deals, with Commerce Secretary Howard Lutnick telling reporters on Sunday that country-by-country tariffs will take effect August 1. While an interim accord with India was also expected to be reached, trade related uncertainties are seen easing in weeks ahead. US President Donald Trump's consistent tariff threats have temporarily muted demand for the yellow metal while supporting the demand for the Greenback. The president has announced new tariffs on countries, with Japan at 25% and South Korea at 30% standing out. He has also given a new deadline, August 1, instead of July 9. Overall broad trend could remain sideways to cautious at higher levels amid Fed meeting minutes due Wednesday night could remain the next major trigger which may also provide clues on timing of rate cuts with most members seen to favor rate cuts starting September. On the other hand, Silver could remain a preferred bet for coming month as compared to gold as Silver-backed ETFs now stand at the highest since mid-2022, after enjoying net inflows for the past eight weeks witnessing the longest run in almost a half-decade Gold Price Outlook Gold Price Weekly View: Sideways to Downside Spot Gold could broadly trade in a narrow range of $ 3350 – 3270/oz (CMP $ 3310) till next week as most trade related uncertainties are seen easing now while US macro cues could remain in focus ahead. On MCX this could translate to a trading range of Rs 97,650 – 95,230 / 10 gm in Aug futures contract.(CMP Rs 96,460 / 10 gm) (Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)
Time of India
25-06-2025
- Business
- Time of India
Gold price prediction today: Where is gold rate headed amidst easing Iran-Israel tensions? Here's the outlook
Gold rate today: Weakening bias may persist after a volatile week as prices cools off in line with easing geopolitical tensions. (AI image) Gold price prediction today: Gold rates have been declining amidst easing Iran-Israel tensions and lower demand for safe haven assets. Maneesh Sharma, AVP - Commodities & Currencies, Anand Rathi Shares and Stock Brokers shares his views and recommendations for gold investors: Weakening bias may persist after a volatile week as prices cools off in line with easing geopolitical tensions Last week global central banks showed caution with mixed policy moves, the US Fed continued to pause, signalling slower cuts on stagflation concerns, Swiss and Norwegian banks did cut, while BoE and the BoJ held steady. Economic data highlighted strains across regions amid escalating geopolitical risks. Global equities mostly closed lower on Middle East tensions, while US Treasuries rallied, the dollar edged up, and oil advanced. In the current week gold started with a modest upside on escalating middle east geopolitics but gave up gains on Tuesday as the US President Donald Trump announced that both nations had agreed to a complete ceasefire, adding that Iran will begin the truce immediately, followed by Israel. The yellow metal also hit an all-time high last week on MCX after Israel launched military operations targeting Iran's nuclear power plant sites. Investors now turn their attention to Federal Reserve Chair Jerome Powell, who is set to testify before US Congress on Tuesday and Wednesday, for any signals on the future path of interest rates. After setting a record just over $3,500 an ounce in April in spot markets, gold had consolidated in a roller coaster ride, while bearish sentiment has now started to seep into the market despite geopolitical tensions. This is due to the fact that gold prices have now discounted major fundamentals while a wave of corrective moves looks likely in July month. On the fundamental side, prices could look ahead to Fed Chair testimony for further clues on monetary policy outlook amid a data heavy week ahead. Gold Weekly View: Sideways to Downside (1 - 2 weeks) Gold Strategy: Sell on Rise MCX Gold looks to test downside support at around Rs. 95,200 - 94,800 per 10 gm levels on Aug. futures contract (CMP Rs. 97,240) in the weeks ahead. In International spot markets (CMP $3320/oz), a close below $ 3270 on daily basis is required for further downside up to $3225-3220 per oz in spot. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
The Print
21-06-2025
- Business
- The Print
Rupee recovers from two-month low level; settles 18 paise higher at 86.55 against US dollar
At the interbank foreign exchange, the domestic currency opened at 86.65 and traded in a narrow range of 86.55-86.67, before ending the session at its intra-day peak of 86.55 against the US dollar, registering a gain of 18 paise from previous closing level. A robust sentiment in domestic equity markets further supported the local unit, according to forex traders. Mumbai, Jun 20 (PTI) The rupee snapped its three-day losing streak and settled with a gain of 18 paise at 86.55 against the US dollar on Friday, buoyed by a massive inflow of foreign capital, retreating crude oil prices and a weakening greenback. The rupee had lost 30 paise to close at an over two-month low of 86.73 against the dollar on Thursday, logging a combined loss of 69 paise in the past three sessions. According to Maneesh Sharma, AVP – Commodities & Currencies, Anand Rathi Shares and Stock Brokers, the rupee gained on Friday but declined a little over 1 per cent this month so far, 'with a large portion of its decline occurring after Israel attacked targets in Iran last Friday'. Dilip Parmar, Research Analyst, HDFC Securities, attributed the rupee's resurgence to 'a revitalisation in the domestic stock markets and a subdued greenback, which receded following reports of President Donald Trump postponing a decision regarding an Iran strike'. Additionally, Parmar said, lower imported commodity prices lent additional buoyancy to the local rupee. 'In the near-term, the spot USD/INR pair faces resistance at 87.10 and finds support at 86.45. The overall bias for the USD/INR pair remains favourable,' he added. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.30 per cent lower at 98.60. In the domestic equity market, the 30-share BSE Sensex surged 1,046.30 points to settle at 82,408.17, while Nifty soared 319.15 points to 25,112.40. Brent crude, the global oil benchmark, declined 2.36 per cent to USD 76.99 per barrel in futures trade. Foreign institutional investors (FIIs) purchased equities worth Rs 7,940.70 crore on a net basis on Friday, according to exchange data. The latest weekly data released by the Reserve Bank of India on Friday showed India's forex reserves rose USD 2.294 billion to USD 698.95 billion during the week ended June 13. However, government data showed the country's eight core sectors' growth slowed down to 0.7 per cent, lowest in nine months, in May 2025 against 6.9 per cent in the same month last year. In April, the growth in output of these key infrastructure sectors were recorded at 1 per cent. PTI TRB HVA This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Time of India
11-06-2025
- Business
- Time of India
Gold price prediction today: Gold rate may see limited upside; time to buy silver? Here's the outlook
Gold price prediction: Silver looks set to outperform gold in the current year. (AI image) Gold price prediction today: Gold rate is expected to see a limited upside in the short-term, feel analysts. As global trade tensions show signs of easing with progress on US-China trade deal talks, the safe haven appeal of gold is not as strong right now. What should investors do? What is the gold price outlook for the coming days and should investors shift focus on silver? Maneesh Sharma, AVP - Commodities & Currencies, Anand Rathi Shares and Stock Brokers shares his views and recommendations: Gold prices ended last week with marginal gains (weekly close $ 3310) despite prices soaring to above $ 3400 per oz earlier in last week in Spot as steady macro cues from US along with ease in trade tensions between US & China weighed on sentiments and limited its upside trajectory. US President Donald Trump announced that Chinese President Xi Jinping has agreed to resume the export of rare earth minerals and magnets to the United States. The statement was made aboard Air Force One, as reported by Reuters, highlighting a potential easing of trade tensions between the two economic giants. The US had also indicated it may soften certain restrictions on technology exports in exchange for the same. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Tìm hiểu thêm Undo Modest US jobs growth in May lifted the dollar marginally last week. Nonfarm Payrolls (NFP) in the United States (US) climbed as came in stronger than the market expectation as Federal Fund Futures pointed to a larger chance that the US Federal Reserve (Fed) may keep its benchmark interest rate steady at its next two monetary policy meetings. In other news, China's central bank expanded its gold reserves for a seventh straight month in May, furthering its bid to diversify holdings despite ongoing price fluctuations. The People's Bank of China added 60,000 troy ounces of the metal to its reserves last month, taking the total to 73.83 million fine troy ounces, according to data released Saturday. However the same indicated a slowdown in pace of accumulation by the central bank which did not bring in any substantial hike in prices during the start of the current week. Gold Price Outlook Traders to closely monitor US CPI (May) and PPI (May) data as any unexpected surprise in readings could lead to indications of delayed rate hike keeping sentiments muted. Market attention also remains fixed on the London discussions, where US and Chinese officials have indicated progress in trade deal. Meanwhile Silver, witnessing a breakout to 13 year highs last week had finally started to join the rally that gold started months ago. More than 8% move seen in silver prices since last week were on account of safe haven demand, due to escalating geopolitics on the Russia-Ukraine front combined with trade uncertainties and also driven by Industrial demand. Gold Price Weekly View: Cautious Upside (1 – 2 Weeks) We continue to expect limited upside in Gold for a short term perspective as any spike towards $3360 - 3390 per oz in Spot (CMP $3330 per oz) still remains a selling opportunity for the yellow metal. On MCX Aug futures (CMP Rs. 97,075/10 gm) prices could trade in a broad range of Rs 98,500 – 95,000 per 10 gm for the coming week. MCX Silver is expected to remain steady as compared to Gold while may trade in a broad range of Rs 1,04,500 – 1,09,000 per kg. in July futures contract as a combined Sell gold/Buy silver strategy could remain favourable on short to medium term perspective. Also silver looks set to outperform gold in the current year as we expect silver to continue to rise in the range of $ 38.70 - 41.50 per oz in International spot markets (CMP $ 36.65 per oz) in the current year. This translates to a level of Rs 1,15,000 – 1,23,000 per kg. in the MCX futures market in 2025 providing further returns of almost 15 – 20% from current levels. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
04-06-2025
- Business
- Time of India
Gold price prediction today: Why gold rate may remain volatile this week & should you sell or buy?
Gold price prediction: This week will remain volatile and set tone in terms of new direction in prices. (AI image) Gold price prediction today: Gold prices ended the last week down and also continued to consolidate during the entire May month below record highs touched in April. Meanwhile, spikes seen in prices in recent sessions were only on account of geopolitical developments involving Russia & Ukraine as Ukraine carried out its biggest strike on record hitting almost $7bn worth of Russian military planes. Maneesh Sharma, AVP - Commodities & Currencies, Anand Rathi Shares and Stock Brokers shares his views and recommendations: The yellow metal jumped almost 2% yesterday while Silver prices were boosted by 5 % due to augmented safe haven flows. On the global trade front, US President Donald Trump lashed out at China over the weekend and accused the latter of violating a preliminary tariff agreement, reviving fears of a trade war between the world's two largest economies. Trump also announced to double tariffs on steel imports from 25 % to 50 % while reportedly urging countries to present the most favourable trade by Wednesday in an effort to speed up discussions before reciprocal tariffs come into effect on July 8. This also kept the dollar upside limited, keeping it below 100 since last week. Bullion prices remained also up following Federal Reserve (Fed) Governor Christopher Waller's slightly dovish approach, saying that rate cuts remain possible later this year. However, he warned that policymakers are mainly focused on controlling inflation. Gold Price Outlook This week to remain volatile and set tone in terms of new direction in prices Overall bias for bullion still suggests limited upside for the current week as June tends to be the weakest season of the year for Gold Miners & stocks in terms of seasonal approach, leaving waning interest in markets. Meanwhile volatility could also remain high as US Fed members continue to stick to easing bias but rate cut probabilities stay delayed only after September month. Adding to these concerns, any further escalation in Russia Ukraine conflict, with any retaliatory response from Russia warrants caution for the USD bulls and may lead to volatility in bullion prices. Traders also look forward to the release of several macro cues including US JOLTS Job Openings along with speeches by influential FOMC members. The major focus, however, will remain on the US monthly employment details, or the Nonfarm Payrolls (NFP) report due on Friday amid steady payrolls may confirm delayed rate cut for the year. Gold Price Weekly View: Highly Volatile (Duration 1 – 2 weeks) Strategy: We expect limited upside in Gold for the coming week as any volatile spike towards $3420 - 3450 per oz in Spot (CMP $3358 per oz) remains a selling opportunity on a weekly basis. On MCX Aug futures (CMP Rs. 97,785 per 10 gm) prices could trade in a broad range of Rs. 99,850 – 93,980 per 10 gm for a duration of 10 – 15 trading days. MCX Silver is expected to remain steady as compared to Gold while may trade in a broad range of Rs, 98,700 – 1,03,500 per Kg. (CMP Rs. 1,00,630 per Kg.) in July futures contract. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
