The US Dollar, near two-year highs, will be a key factor for precious metals. Going forward, forecasts on the precious metals are extremely bullish, with UBS seeing gold at $2,900/oz by end of 2025 while Citi, Goldman Sachs and JPMorgan are pegging a target of $30,00 by December 2025.
Zero-yield bullion tends to be a preferred investment in a low interest rate environment and during geopolitical turmoil.
As procyclicality becomes increasingly probable from 2025 onwards, the alignment of bullion prices is logically upwards
Gold and silver have broken with trend and are rising six months ahead of US elections. It calls for a differentiated trading strategy
Analysts are armed with better market data than they’ve ever had before, and yet the cumulative answer is frustratingly vague: It’s everyone all at once, and no one in particular.
The People’s Bank of China was the biggest buyer in H1 reporting an addition of 103 tonnes. China's gold buying continued for eight straight months at the end of H1. Its gold reserves totalled 2,113 tonnes at the end of June.
Manoj Kumar Jain of Prithvi Finmart suggests buying MCX gold on dips around Rs 59,600 per 10 grams with a stop loss of Rs 59,330 for the target of Rs 60,060.
The sentiment, however, remains upbeat. Concerns about a possible recession, failing banks and collapsing dollar could propel gold prices on MCX to a record high of Rs 65,000 , says Axis Securities's Pritam Patnaik
Amid talks about the US Fed pausing its rate-hike cycle in May, recent economic data have suggested that the country's economy is still resilient and that the central bank may have more headroom to raise rates
Emkay Wealth Management says that the only risks to gold’s upside are a stronger dollar and the Federal Reserve continuing to raise interest rates in the US
In order for inflation to be conquered, economic pain will have to be weathered and that should support the bullish case for gold, says OANDA’s Ed Moya
Gold’s bullish outlook remains intact, but it seems prices may be stuck in a consolidation phase until there is a clearer outlook for the US economy, experts said
Gold’s path to record territory could become very clear post US inflation report and if more signs of banking stress emerge, says OANDA’s Ed Moya.
Gold prices on COMEX are expected to remain volatile this week ahead of the US inflation data and could hold its support level of $1,984 per ounce, says Prithvi Finmart’s Manoj Jain.
Last week, positive US jobs data, coupled with a fall in unemployment rate in the country weighed on gold’s safe-haven appeal.
Demand for gold has never been better since recession risks have not been this high in decades, while banking concerns remain amid pessimism in equity markets, says OANDA’s Ed Moya
Manoj Jain of Prithvi Finmart suggests buying MCX gold on dips around Rs 59,650 per 10 grams with a stop loss of Rs 59,330 for a target of Rs 60,100.
Manoj Jain of Prithvi Finmart expects gold and silver prices to remain volatile in today’s session and continue to hold their respective support levels.
Manoj Jain of Prithvi Finmart expects gold prices to be in an uptrend with likely resistance at Rs 59,400-Rs 59,720 per 10 grams for the April contract on Multi Commodity Exchange of India.
In India, it is silver that is seeing big premiums. The differential has soared recently to $1, more than triple the usual level, according to consultancy Metals Focus
Gold prices fell on Friday as the dollar strengthened ahead of critical U.S. inflation data that could influence the Federal Reserve's policy decisions in the coming months.
Gold may be heading for another rally, with warnings over a global economic slowdown paving the way for a fresh push toward $2,000 an ounce.
Spot gold was up 0.2% at $1,871.69 per ounce, as of 0048 GMT, its highest since May 9. Gold prices have risen about 1% this week.
Nearly decade-long demand to increase the metal’s volumes in the futures market makes an appearance this time too.
Experts suggest that Gold and Silver prices are likely to remain volatile ahead of the outcome of the US Fed meeting and the likely range could be 37,800-38,200.