Gold Price Today News: Gold and silver prices climbed sharply on Thursday, driven by renewed geopolitical tensions and fresh technical breakouts. COMEX gold hovered around $3,400 per ounce, while silver traded above $36. On MCX, gold surged past ₹98,000, reinforcing bullish sentiment amid rising safe-haven demand. Analysts at Motilal Oswal project near-term targets of ₹1,02,000 for MCX gold and $3,500 for COMEX gold.
Trump: Region ‘Could Be Dangerous’, Evacuations Begin
U.S. President Donald Trump confirmed on Wednesday that American personnel are being relocated from the Middle East, warning, “it could be a dangerous place.” He reiterated that the United States would not allow Iran to develop nuclear weapons. Reuters reported that Washington is preparing a partial evacuation of its embassy in Iraq, allowing dependents to leave military bases across the region.
State Department Confirms Departures Amid Rising Tensions
A U.S. official said the State Department has authorized voluntary departures from Bahrain and Kuwait. The global travel advisory was updated to reflect the situation: “On June 11, the Department of State ordered the departure of non-emergency U.S. government personnel due to heightened regional tensions.” Reports also suggest that Israeli forces are preparing a potential strike on Iran’s nuclear facilities, adding further urgency to the security situation.
Trade Policy Adds to Market Uncertainty
Trump also said he intends to send formal letters to trade partners in the next two weeks setting unilateral tariff rates ahead of the July 9 deadline to reimpose duties. “We’re going to be sending letters out in about a week and a half, two weeks, to countries, telling them what the deal is,” he said at an event in Washington.
Treasury Secretary Scott Bessent indicated the 90-day tariff pause could be extended for key partners showing “good faith” in negotiations.
Motilal Oswal: Bullish Gold Breakout, Target ₹1,02,000
According to Motilal Oswal, MCX Gold has broken out of a Cup and Handle pattern on the 4-hour chart, indicating bullish continuation. The structure is forming higher highs and higher lows.
- Daily RSI above 50 supports this move.
- Buy zone: ₹98,350 – ₹98,500
- Stop-loss: Below ₹95,900 (closing basis)
- Upside Target: ₹1,02,000
On the COMEX chart:
- A breakout above the falling trendline confirms strength.
- Buy Range: $3,370 – $3,375
- Stop-loss: Below $3,285
- Target: $3,500
Manoj Kumar Jain: Volatility High After U.S. Inflation Data
Commodity expert Manoj Kumar Jain commented, “Gold and silver show very high price volatility in the international markets after U.S. inflation data.” While inflation came in lower than expected and the dollar index weakened, tensions in the Middle East added to the support for precious metals.
He added, “Fresh geo-political tensions in the Middle East could support gold and silver prices. Gold prices could test its resistance level of $3,400 per troy ounce once again.”
Key Technical Levels:
- COMEX Gold:
- Support: $3,330 – $3,300
- Resistance: $3,368 – $3,400
- COMEX Silver:
- Support: $36.00 – $35.70
- Resistance: $36.55 – $36.84
- MCX Gold:
- Support: ₹96,400 – ₹96,100
- Resistance: ₹97,200 – ₹97,750
- MCX Silver:
- Support: ₹1,04,400 – ₹1,03,650
- Resistance: ₹1,06,300 – ₹1,07,500
Currency Outlook:
According to Jain, a key USD/INR pair is trading below its support at 85.6600 and is expected to remain range-bound.
- Support: 85.4000 – 85.1500
- Resistance: 85.7400 – 85.8800
- Weekly Expected Range: 84.4000 – 86.8000
Kedia Commodity Gold Price Prediction
Gold is under long liquidation, with open interest down 1.24% to 13,012 contracts. Key support lies at 96,325, below which prices may test 95,945. Resistance is pegged at 97,370, and a break above could trigger a move toward 98,035. Silver support is at 1,04,810, below which prices may test 1,04,225. Resistance is seen at 1,06,440; a break above could take prices to 1,07,485.
Nirmal Bang Sec View on Gold and Silver Prices
Geojit Group Gold and Silver Price Outlook
Big Events of The Week
Thursday, June 12, 2025
- 06:00 PM (EDT) – United States: Producer Price Index (PPI) MoM (May)
- 06:00 PM (EDT) – United States: Core PPI MoM (May)
- 06:00 PM (EDT) – United States: Initial Jobless Claims (for week ending June 7)
Friday, June 13, 2025
- 02:30 PM (CET) – Euro Area: Industrial Production MoM (April)
- 07:30 PM (EDT) – United States: Preliminary Michigan Consumer Sentiment Index (June)
- 10:00 AM (JST) – Japan: Final Industrial Production MoM (April)
Tuesday, June 17, 2025
- 08:30 AM (JST) – Japan: Bank of Japan (BoJ) Interest Rate Decision
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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.
