Gold Price Today News Update: Gold and silver prices extended their losses on Wednesday, weighed down by easing safe-haven demand and a shift in market sentiment following progress in US-China trade negotiations. Spot gold prices dropped over 2%, breaching the $3,150 mark to hit a one-month low of $3,168 per ounce, while silver declined below $32.
The slide in bullion prices coincides with global geopolitical developments and key economic data expectations. Today, markets are closely watching the Russia-Ukraine peace talks scheduled in Istanbul and the U.S. unemployment claims data due later this evening. Today in evening also keep eye on Federal Reserve Chairman Jerome Powell’s speech and Euro Zone GDP data.
Geopolitical Developments: Spotlight on Russia-Ukraine Peace Talks
According to Reuters, both U.S. President Donald Trump and Russian President Vladimir Putin have indicated they will not attend the Istanbul peace summit—potentially the first direct talks between Moscow and Kyiv in three years. Instead, the Kremlin will send a delegation of senior technocrats, including presidential adviser Vladimir Medinsky and Deputy Defence Minister Alexander Fomin. While Putin had earlier proposed direct negotiations “without any preconditions,” his absence raises uncertainty about the talks’ outcome. Meanwhile, Ukrainian President Volodymyr Zelenskiy is headed to Turkey but has said he will attend only if Putin is present. The outcome of this meeting could significantly influence global market sentiment and gold prices.
Trump’s Middle East Moves Shake Markets
President Trump’s Middle East tour also stirred geopolitical and market discussions. During his visit to Saudi Arabia, Trump met with Syria’s president and announced the lifting of all U.S. sanctions on the war-torn nation, surprising many in the region. He then traveled to Qatar, where he oversaw a major Boeing jet deal. These developments have sparked unease in Israel, whose government has so far maintained diplomatic silence amid the flurry of U.S. policy shifts.
On the trade front, tensions are brewing between the U.S. and India. Bloomberg reports that India has threatened retaliatory tariffs against the U.S. in response to higher American duties on steel and aluminum. This move is widely seen as a negotiation tactic ahead of a high-level trade meeting in Washington.
World Gold Council Insights
Despite recent bearishness in the gold market, Chinese investors remain bullish. According to the World Gold Council (WGC), “Chinese gold ETFs recorded their strongest month on record, adding RMB49bn (US$6.8bn).” The report notes, “We believe this is due to lower gold price premiums – sometimes discounts – and cooling gold jewellery demand.” Total assets under management surged 57% in April, reaching a record-high RMB158bn (US$22bn), with holdings jumping by 65 tonnes to a record 203 tonnes.
In another report, the WGC highlighted the broader investment appeal of gold amid global uncertainty: “The current macroeconomic landscape is characterised by significant volatility and shifting dynamics… we believe investors should explore alternative and complementary assets such as gold.”
Futures markets reflected this downturn. On Wednesday Gold June futures settled at $3,188.30 per troy ounce, down 1.83%, and silver July futures ended at $32.444, down 1.98%. On the MCX, gold June futures closed at ₹92,265 per 10 grams (down 1.48%) and silver July futures at ₹95,466 per kilogram (down 1.34%).
The decline was driven by profit booking, easing April U.S. CPI inflation data, and a sharp rise in the U.S. 10-year bond yields, which crossed 4.50%. However, the weakening dollar index and unresolved trade deals may provide a floor for gold and silver in the near term.
Technical Outlook: Volatility Expected Ahead
Market analyst Manoj Kumar Jain forecasts continued volatility in precious metals:
“Gold prices could hold its key support level of $3,140 per troy ounce and silver prices could also hold $31.40 per troy ounce levels,” he said.
“Gold has support at $3,164–3,140, while resistance is at $3,210–3,234. Silver has support at $32.10–31.80 and resistance at $32.74–33.00 per troy ounce,” he added.
“In MCX, gold is having support at ₹91,770–91,360 and resistance at ₹92,650–93,100, while silver support lies at ₹94,800–94,200 and resistance at ₹96,000–96,650. I suggest staying away from taking fresh positions in today’s session ahead of key global economic data.”
Currency Watch
Jain expect the dollar index to remain volatile this week amid volatility in the global financial markets and ahead of the key global economic data and it could trade in the range of 97.70-102.85. On the other hand, a rupee showed very high volatility and unable to hold its previous session’s gain amid rebound in the major global currencies including the Euro and Pound Sterling. We expect a rupee to remain volatile this week amid volatility in the dollar index and volatility in the global financial markets and a pair could trade in the range of 84.2000-86.8000 this week.
Augmont Outlook says
As expected, Gold has touched and dropped below $3200 (~Rs 92000), and this target has been achieved. As prices have broken the Double-top neckline support, more downside is expected up to $3000-50 (~Rs 87000 – 88000) in the short term.Silver prices are expected to get momentum now, as the tariff war has de-escalated. We are likely to see prices touching $34(~Rs 99000) and $35(~Rs 102,0000) soon in the coming days.
JM Financial Group Daily Note
Gold prices fell more than 2 breaching past key support at 3190 as risk sentiments improved on reports that the U S is likely to clinch a trade deal with Japan and South Korea soon, while talks with India is going well
Kedia Commodity Outlook for Today
Gold -Immediate support lies at ₹91,635, with a further downside to ₹91,005. Resistance is seen at ₹93,280; a break above may push prices toward ₹94,295.
Silver- Immediate support lies at ₹94,645, with a break below likely testing ₹93,820. On the upside, resistance is seen at ₹96,675; a move above this level could open the path toward ₹97,880.
IIDM Daily Note
According to IIDM, the next major support for gold is seen at $3,150. “Below this, a further dip towards $3,100–3,075 can be seen,” their daily update noted. Resistance is pegged at $3,220, above which a move toward $3,260–3,300 is possible.
Nirmal Bang Gold and Silver Outlook
Geojit Group Outlook For the Day
SMC Group Outlook For Today
Big Events of The Week
Monday, May 12, 2025
07:55 PM – US – Fed Kugler Speech
11:30 PM – US – Monthly Budget Statement (April)
Tuesday, May 13, 2025
06:00 PM – US – Core Inflation Rate MoM (April)
06:00 PM – US – Inflation Rate MoM (April)
Wednesday, May 14, 2025
02:45 PM – US – Fed Waller Speech
06:40 PM – US – Fed Jefferson Speech
Thursday, May 15, 2025
02:30 PM – Eurozone – GDP Growth Rate QoQ 2nd Estimate (Q1)
06:00 PM – US – Retail Sales MoM (April)
06:00 PM – US – Core PPI MoM (April)
06:00 PM – US – Initial Jobless Claims (Weekly)
06:10 PM – US – Fed Chair Powell Speech
06:45 PM – US – Industrial Production MoM (April)
Friday, May 16, 2025
05:20 AM – Japan – GDP Growth Rate QoQ Preliminary (Q1)
07:30 PM – US – Michigan Consumer Sentiment Preliminary (May)
Other Major Events This Week
China–US Trade Talks
President Trump’s Visit to the Middle East
Gold Price Today in Sarafa Market (15-05-2025)
99.50~94700
23 KT~92300
22 KT~88500
20 KT~80700
18 KT~72800
14 KT~58100
9999 SILVER:~97200
Gold Price Today Digital Media Network
Gold Price Today News Youtube Channel (100000 Subscriber): https://www.youtube.com/@goldpricetodaynews
Facebook Page (22000 Followers)- https://www.facebook.com/Goldsilverpricetoday
Facebook group of (80000 Jewellers Member – Sunar Jewellers Ekta – https://www.facebook.com/groups/goldsilverpricenews
Website (100000 Users)- https://goldpricetoday.co.in/
Instagram- https://www.instagram.com/goldpricetodaynews/
X- https://twitter.com/today_gold
Telegram Group (2000 Members)- https://telegram.me/goldsilverprice
Magazine (20000 Digital Subscribers): Gold Silver News
Whatsapp News(25000 Members): +918448469588
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.
