Gold Price Today News: Gold prices continued their upward momentum as investors turned to safe-haven assets amid heightened geopolitical tensions and global economic uncertainty. Adding to the market sentiment, the White House confirmed that U.S. President Donald Trump and Chinese President Xi Jinping are expected to speak this week, signaling potential movement in the prolonged trade dispute between the world’s two largest economies. “I can confirm that the two leaders will likely talk this week,” said White House Press Secretary Karoline Leavitt on Monday.
Precious Metals Close Higher in International Markets
On Monday, gold and silver futures posted strong gains in the international markets. The August gold futures contract settled at $3,397.20 per troy ounce, up 2.47%, while July silver futures closed at $34.694 per troy ounce, up 4.57%. However, Tuesday’s session opened weaker, with gold trading lower and silver down more than 1%, though still holding above the $34 mark.
U.S. Pushes for Trade Deals Ahead of Tariff Deadline
The Trump administration is urging its trade partners to submit their best offers by Wednesday, aiming to expedite negotiations ahead of a self-imposed deadline just five weeks away. A draft letter obtained by Reuters revealed the push is intended to accelerate progress on multiple trade fronts as the U.S. tightens its stance on tariffs and market access.
China’s Manufacturing Sector Contracts Sharply
In a sign of growing strain on China’s industrial base, factory activity in May registered its steepest decline since September 2022, according to the private Caixin survey. The official PMI also reported contraction for the second consecutive month. The Caixin report, based on data from more than 500 mainly export-oriented firms, underscores the persistent challenges facing China’s manufacturing sector.
Wall Street Banks Predict U.S. Dollar Weakness
Top Wall Street institutions, including Morgan Stanley and JPMorgan Chase & Co., forecast further weakening of the U.S. dollar driven by anticipated interest rate cuts, sluggish economic growth, and policy uncertainty under President Trump’s trade and tax agenda. Morgan Stanley projects a nearly 9% drop in the U.S. Dollar Index, expecting it to reach 91 within a year. JPMorgan, meanwhile, recommends positioning in alternative currencies like the yen, euro, and Australian dollar.
Safe-Haven Demand Boosts Gold and Silver Prices
Gold surged to three-week highs and silver to two-month peaks following renewed safe-haven buying triggered by a massive Ukrainian drone strike on Russian strategic bombers and renewed trade tensions. President Trump’s accusation that China violated trade agreements and his move toward higher tariffs fueled investor caution. The dollar index slipped below the 99 mark to a six-week low, amid growing pressure on the U.S. economy and selling by global central banks of U.S. treasuries.
Gold and Silver Outlook by Prithvi Finmart
Manoj Kumar Jain of Prithvi Finmart noted that gold is approaching a key resistance at $3,414 per troy ounce. A decisive break above could signal further bullish momentum. Volatility is expected this week due to geopolitical events, the dollar index, and fluctuations in global bond markets. Gold is likely to find support near $3,240, while silver could remain firm above $32.40 on a weekly closing basis.
Key Technical Levels to Watch
For the day, gold has support at $3,355–$3,330 and resistance at $3,414–$3,445 per troy ounce. Silver finds support at $34.20–$33.80 and resistance at $35.00–$35.35. On the MCX, gold support is seen at ₹97,400–₹96,850 and resistance at ₹98,200–₹98,850. Silver support lies at ₹100,200–₹99,100, while resistance is at ₹102,400–₹104,000.
Kedia Commodity: Technical Perspective
According to Kedia Commodity, immediate support for gold is seen at $3,340. A decisive break below could lead to a decline toward $3,270. On the upside, resistance is seen near $3,420. As long as gold holds above $3,340, it is expected to trade within a choppy range of $3,340–$3,420.
Geojit Group gold and silver outlook
Nirmal Bang Gold and Silver Predictions
Motilal Oswal Group Gold and Silver prices Outlook
Big Events of the Week (June 2–6, 2025)
Monday, June 2, 2025 – United States
05:30 AM – Fed Waller Speech07:30 PM – ISM Manufacturing PMI (May)07:45 PM – Fed Logan Speech
Tuesday, June 3, 2025 – United States
07:30 PM – JOLTs Job Openings (April)07:30 PM – Factory Orders MoM (April)
Tuesday, June 3, 2025 – Euro Area
02:30 PM – Inflation Rate YoY Flash (May)
Wednesday, June 4, 2025 – United States
- 01:00 AM – Fed Logan Speech
- 05:45 PM – ADP Employment Change (May)
- 07:15 PM – S&P Global Composite PMI Final (May)
- 07:30 PM – ISM Services PMI (May)
Thursday, June 5, 2025 – United States
- 06:00 PM – Exports (April), Imports
- 06:00 PM – Nonfarm Productivity QoQ Final (Q1)
Thursday, June 5, 2025 – Euro Area
- 05:45 PM – ECB Interest Rate Decision
- 06:15 PM – ECB Press Conference
Friday, June 6, 2025 – United States
- 06:00 PM – Non-Farm Payrolls (May)
- 06:00 PM – Unemployment Rate (May)
Other Big Events to Watch
- Trump Statement on China
- Trump Statement on Tariffs
- Russia–Ukraine Developments
- Israel–Hamas Ceasefire News
- Iran–US Nuclear Talks
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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.
