Gold Price Prediction: War tensions push yellow metal down by Rs 1,900 from peak. Turbulence ahead?

Live Events
How to trade gold?
Manoj Kumar Jain suggested the following ranges for gold and silver on MCX:
Gold has support at Rs 98,660-98,280 and resistance at Rs 99,400-99,850
Silver has support at Rs 1,05,400-1,04,650 and resistance at Rs 1,07,000-1,07,800
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 geopolitical tensions and a war scenario, Gold August futures contracts at MCX opened flat at Rs 99,175/10 grams, which is up merely by Rs 66 or 0.07%. However, the prices of the yellow metal have slipped by Rs 1,900 from their all-time high of Rs 1,01,078/10 gm.However, silver July futures showed strength, opening higher by Rs 503 or 0.47% at Rs 1,06,727/kg.Internationally, gold and silver prices hovered near $3,360 and $36 per ounce, respectively, on Monday, remaining volatile as tensions escalated in the Middle East after the U.S. joined Israeli strikes on Iran's nuclear sites.President Trump warned of further military action if Iran resists peace, intensifying fears and boosting demand for safe-haven assets.On Friday, gold and silver settled on a weaker note in the domestic market while settling on a mixed note in the international markets. Gold August futures contract settled at Rs 99,109 per 10 grams with a loss of 0.22%, and silver July futures contract settled at Rs 1,06,224 per kilogram with a loss of 1.09%.Gold and silver showed very high price volatility and slipped from their highs amid the hawkish policy stance of the U.S. Fed. The U.S. Fed maintained a status quo on interest rates and also downgraded growth outlooks.They also show concerns about higher inflation due to U.S. trade tariffs.Gold and silver also plunged after the U.S. President said that it will take two weeks to decide whether to intervene in the Israel-Iran war or not. However, the US stroke on Iran's three main nuclear facilities over the weekend.This comes at a fragile moment for the global economy.The dollar index is also facing resistance at higher levels and supporting prices of gold and silver. Today, the US Dollar Index, DXY, was hovering near the 99.01 mark, gaining 0.31 or 0.31%.'We expect gold and silver prices to remain volatile this week amid volatility in the dollar index and geo-political tensions and Chairman's testify but gold prices could hold its support level of $3,280 per troy ounce and silver prices could also hold $34.40 per troy ounce levels on a weekly closing basis,' said Manoj Kumar Jain of Prithvifinmart Commodity Research.'Investors now turn to upcoming U.S. economic data and speeches from Federal Reserve officials, including a two-day congressional testimony by Chair Jerome Powell, to gauge the Fed's response amid rising risks from tariffs and conflict,' believes Rahul Kalantri, VP Commodities at Mehta Equities.Jain suggests buying silver around Rs 95,500 with a stop loss of Rs 95,000 for a target of Rs 96,650.Standard gold (22 carat) prices in Delhi stand at Rs 57,216/8 grams while pure gold (24 carat) prices stand at Rs 60,968/8 grams.Standard gold (22 carat) prices in Mumbai stand at Rs 57,576/8 grams while pure gold (24 carat) prices stand at Rs 61,416/8 grams.Standard gold (22 carat) prices in Chennai stand at Rs 56,936/8 grams while pure gold (24 carat) prices stand at Rs 60,744/8 grams.Standard gold (22 carat) prices in Hyderabad stand at Rs 56,880/8 grams while pure gold (24 carat) prices stand at Rs 60,576/8 grams.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

Business Standard

6 minutes ago

• Business Standard

P&G Hygiene appoints Gaurav Bhartia as CFO

Procter & Gamble Hygiene and Health Care said that its board has approved the appointment of Gaurav Bhartia as chief financial officer (CFO) with effect from 1 July 2025. Mrinalini Srinivasan has tendered her resignation as the chief financial officer of the company effective from closure of business hours of June 30, 2025, as she will be leaving P&G to pursue other interests outside the company. Gaurav Bhartia holds a B. Tech. degree from National Institute of Technology, Trichy. After a successful internship stint with P&G, he joined P&G full time in 2014 as a graduate from IIM Bangalore. Gaurav Bhartia currently leads Sales Finance for P&G India. He has a diverse experience spanning over a decade with P&G, across multiple categories and markets, leading transformational projects and delivering outstanding results for several important P&G businesses. In his past assignments, Bhartia has had significant contribution towards driving business growth and improving structural margins & profitability, while navigating macro-economic uncertainties. He is passionate about coaching and invests time building capability for finance and broader multi-functional teams. He is a mentor to many in the organization and fosters a culture of performance and collaboration for sustained excellence. Procter & Gamble Hygiene and Health Care engaged in the manufacturing and selling of branded packaged fast moving consumer goods in the femcare and healthcare businesses. Its portfolio includes Whisper India's leading Feminine Hygiene brand, and VICKS India's No. 1 Health Care brand and Old Spice. The companys standalone net profit increased 1.12% to Rs 156.10 crore on 0.9% fall in revenue from operations to Rs 989.13 crore in Q4 FY25 over Q4 FY24. The counter shed 0.25% to Rs 13,392.35 on the BSE.

Mint

12 minutes ago

• Mint

The bond market's biggest risk isn't the deficit, economist says. Here's what is.

Bond investors might be worried about the wrong thing. President Donald Trump's massive tax and spending bill has been the latest big headache for bond investors, but TS Lombard economist Dario Perkins says there is a much bigger threat to the market: Chaotic U.S. policymaking. As Trump's spending bill continues to move forward, some economists warn that the proposal's tax cuts might force the government to borrow more money, widening the fiscal deficit and ballooning the country's $37 trillion pile of debt. A greater supply of government debt, in turn, would lower existing bond prices and push up yields. (Yields move in opposite direction of bond prices.) Analysts have even made comparisons to the cautionary tale of British Prime Minister Liz Truss—her mini-budget's proposed unfunded tax cuts in 2022 triggered a sell-off in bonds and shortened her tenure to mere 49 days. But such jitters about fiscal crises are 'unnecessarily alarmist," according to Perkins. To him, the biggest risk is roller-coaster policymaking. 'The big risk is not fiscal deficits but U.S. policy chaos against the backdrop of a world that is already more susceptible to negative supply shocks," he writes. The rapid fluctuations in federal policy have arguably been palpable since the Trump administration placed aggressive tariffs on global trade partners, only to walk back on them days later. The U.S. is now attempting to put together trade agreements with several dozens of countries in a matter of 90 days—they typically take years—all while conducting broad-based deportations. Against this backdrop, there's now a question of U.S. involvement in the Israel-Iran conflict. A broader war would threaten to push up inflation and lead to supply-chain disruptions if Iran potentially blocks the Strait of Hormuz—a critical global shipping channel. Higher inflation is the nemesis of the bond market because it chips away at the value of returns. Unpredictable U.S. policies raise a deeper fear: They could undermine the role of U.S. Treasuries as a global risk-free asset, Perkins writes. If bonds become less valuable as a portfolio hedge, they will be less attractive to investors—regardless of the size of the U.S. budget deficit or the balance-sheet policies of central banks, he added. Taken together, these concerns suggest Trump's budget proposal may be lower in the pecking order of threats to the bond world. For now, the bond market seems to be just waiting it out as a quiet spectator. Yields have basically gone nowhere for long-dated Treasuries lately. The 1o-year yield has ranged between 4.518% to 4.359% since May 23, while the 30-year yield has closed between 5.041% and 4.848% over the same period. Write to Karishma Vanjani at

India.com

14 minutes ago

• India.com

India's Export Sector Stands Strong Amid Rising Geopolitical Tensions: FIEO

New Delhi: While geopolitical tensions in the Middle East, including the ongoing Iran-Israel conflict, pose certain challenges to global trade dynamics, India's export sector remains resilient and adaptive, the Federation of Indian Export Organisations (FIEO) said on Monday. The country's trade with both Iran and Israel, while important, constitutes a small share of the overall export-import basket. "The government and industry are jointly monitoring developments to ensure minimal disruption," FIEO President S.C. Ralhan said. "We do anticipate some short-term impact on demand and logistics, particularly in the Gulf region, which serves as a crucial hub for Indian exports. Increased shipping costs, longer transit times, and rising marine insurance premiums may add pressure, especially in price-sensitive sectors," he said in a statement. A wider Middle East conflict is expected to have an impact on oil supplies from Saudi Arabia, Iraq, Kuwait and the UAE, which would lead to a sharp spike in oil prices. Shipping could also get hit as Yemen's Houthi rebels have already warned that they would resume their attacks on ships if the US attacked Iran. India imports around 85 per cent of its crude oil requirement. However, Indian exporters have time and again demonstrated agility in re-routing shipments, diversifying markets, and managing financial exposures, the FIEO said. The robust MSMEs and large-scale exporters, coupled with strong government support mechanisms, will help cushion any near-term shocks. Crude oil price volatility is being closely watched, as it can influence both inflation and logistics costs. But India's diversified energy procurement strategy and the Reserve Bank's proactive stance help maintain liquidity and macroeconomic stability. "Overall, while there are temporary headwinds, we see this as an opportunity for Indian exporters to explore alternate routes, strengthen regional partnerships, and consolidate India's role as a reliable trade partner in uncertain times," Ralhan said. The FIEO said it is committed to supporting exporters with timely guidance, market intelligence, and policy advocacy to ensure continued momentum in our global trade journey. Meanwhile, India's total exports of merchandise and services stood at $71.12 billion in May, which represents a growth of 2.77 per cent over the same month of the previous year.