Gold Price Today News, Silver Price: Gold and silver prices witnessed sharp swings on Monday amid ongoing geopolitical tensions and trade war concerns. Silver surged more than 3% on the Comex futures and crossed the $30 mark in the spot market. In contrast, gold slipped $10 in the spot market but remained above the crucial $3,000 per ounce level.
China Prepares Major Stimulus to Counter Tariff Impact
Investor sentiment turned after reports that China is preparing a large-scale economic stimulus package to defend its economy against fresh U.S. tariffs. According to a front-page commentary in People’s Daily, the flagship newspaper of the Communist Party:
“There is still room for further expansion of the fiscal deficit, special treasury bonds and special debts.”
The article added that China has room to ease borrowing costs and cut the reserve requirement ratio (RRR) for financial institutions. The central bank’s policy rates could also be reduced in the near term to support growth.
Goldman Sachs Sees Policy Shift in China
Goldman Sachs expects Beijing to accelerate fiscal easing as trade tensions intensify. The investment bank estimates that U.S. President Donald Trump’s new tariffs could reduce China’s GDP growth by 0.7 percentage points. China has hinted at multiple monetary measures, including potential cuts in the RRR, to shield its economy.
China Boosts Gold Reserves for Fifth Straight Month
Despite the short-term dip in prices, China continues to accumulate gold. The People’s Bank of China (PBoC) added 3 tonnes to its reserves in March, marking the fifth consecutive month of purchases.
“The People’s Bank of China has reported adding 3 tonnes to its #gold reserves in March; the fifth consecutive month of reported purchases. This lifts its YTD net purchases to 13 tonnes, and gold holdings to 2,292 tonnes.”
These moves signal a strategic push to enhance its gold holdings as a safe-haven asset amid rising global uncertainty.
Trump Defends Tariffs, Calls Them ‘Medicine’
U.S. President Donald Trump defended his decision to implement sweeping tariffs on foreign imports, a move that has unsettled global markets.
“I don’t want anything to go down. But sometimes you have to take medicine to fix something,” he said as he returned from a weekend of golf in Florida.
Trump also remarked that foreign governments would have to pay “a lot of money” to get these tariffs lifted.
Trade War Sparks Bullion Market Volatility
Last week, gold and silver prices fell sharply after the U.S. imposed reciprocal trade tariffs. In retaliation, China announced a 34% tariff on U.S. goods. Negative commentary from the U.S. Federal Reserve Chairman and strong economic data added pressure to precious metals.
The U.S. non-farm payroll report for March showed 228,000 new jobs—far above expectations of 137,000—fueling strength in the U.S. dollar and sparking a sell-off in global equity markets. This, in turn, weighed on bullion prices.
Outlook: Volatility Likely to Persist in Bullion
With the dollar index recovering from six-month lows and ongoing global trade tensions, high volatility in gold and silver markets is expected to continue this week.
Manoj Kumar Jain, Director in Prithvi Finmart project that:
- Gold could test the $2,940 level per troy ounce
- Silver may dip toward $28.00 per troy ounce
Technical Levels to Watch by Manoj Kumar Jain
International Market:
Gold: Support at $3,000–2,964; resistance at $3,067–3,100
Silver: Support at $28.50–28.00; resistance at $29.80–30.20
MCX (India):
Gold: Support at ₹87,300–86,500; resistance at ₹88,800–89,360
Silver: Support at ₹85,800–84,500; resistance at ₹88,500–90,000
As macroeconomic tensions mount, traders are advised to monitor global headlines closely, especially related to U.S.-China relations and central bank policies, which could further drive movement in precious metal prices.
Key Economic Events – Week of April 7, 2025
Monday, April 7
🕗 08:00 PM (US) – Fed Governor Kugler Speech
Tuesday, April 8
🕧 12:30 AM (US) – Consumer Credit Change (Feb Estimate)
🕦 11:30 PM (US) – Fed President Daly Speech
Wednesday, April 9
🕦 11:30 PM (US) – FOMC Meeting Minutes
Thursday, April 10
🇨🇳 07:00 AM (China) – Inflation Rate YoY (March)
🕕 06:00 PM (US) – Core Inflation Rate MoM (March)
🕕 06:00 PM (US) – Inflation Rate MoM (March)
🕕 06:00 PM (US) – Initial Jobless Claims (April)
Friday, April 11
🕕 06:00 PM (US) – PPI MoM (March)
🕕 06:00 PM (US) – Core PPI MoM (March)
🌍 Other Major Events to Watch:
- Statement from Donald Trump
- Russia–Ukraine Conflict Updates
- Iran Statement
- Trump–Netanyahu Meeting
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Disclaimer:
The information provided in this article is for informational purposes only and reflects the views of industry experts. Before making any investment decisions, it is recommended that you consult a financial advisor. The team at Gold Price Today does not engage in personal buying, selling, or trading of gold or silver on exchanges. We are not responsible for any gains or losses incurred based on the information presented here.
