Budget 2025, US Fed Meeting: Gold and silver prices are expected to witness heightened volatility this week, driven by a series of major global events, including the Indian Budget, the U.S. Federal Reserve meeting, and the anticipated Trump tariff orders from February 1. Analysts predict sharp price swings as investors closely monitor economic and geopolitical developments.
Trump Imposes Heavy Tariffs on Colombia Amid Migrant Dispute
In a move that shook global markets, U.S. President Donald Trump announced a 25% tariff on all Colombian imports following Colombia’s refusal to allow military planes carrying deported migrants to land. Trump warned that the tariff could increase to 50% within a week and imposed travel restrictions on Colombian government officials. Further sanctions under the International Emergency Economic Powers Act are also being implemented, signaling a tough stance on immigration policy.
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Geopolitical Tensions Rise as Middle East and China Developments Unfold
Trump has urged Jordan and Egypt to accommodate Palestinian refugees from Gaza, a proposition that both nations have strongly opposed. Meanwhile, China’s manufacturing sector showed unexpected contraction in January, reversing a three-month expansion streak ahead of the Lunar New Year. However, China’s industrial profits rose by 11% in December, marking the first increase since July, though full-year profits in 2024 registered a 3.3% decline compared to the previous year.
Gold and Silver Prices Hit Record Highs Amid Policy Speculations
Last week, gold and silver prices surged following President Trump’s remarks at the World Economic Forum, where he called for lower interest rates and signaled a softer stance on Chinese tariffs. Gold reached a three-month high in international markets, closing at record levels, while domestic gold prices surpassed the ₹80,000 mark. The weakening of the U.S. dollar index, coupled with positive economic data such as jobless claims, further supported the bullion market.
Technical Outlook: Key Support and Resistance Levels
According to market expert Manoj Kumar Jain, gold and silver prices are holding critical support levels of $2,634 and $29.50 per troy ounce, respectively, in international markets.
Gold: Support at $2,758-$2,744, resistance at $2,794-$2,810 per troy ounce.
Silver: Support at $30.88-$30.55, resistance at $31.44-$31.80 per troy ounce.
On the MCX, gold has support at ₹79,770-₹79,440 and resistance at ₹80,325-₹80,650, while silver finds support at ₹90,750-₹90,000 and resistance at ₹92,200-₹93,000.
Investment Strategy: Profit-Booking in Gold, Buying Opportunity in Silver
Jain recommends booking profits in gold at current levels but suggests buying silver around ₹91,100 with a stop loss at ₹90,450 for a target of ₹92,400. Investors are advised to remain cautious as market movements will depend on key economic indicators and geopolitical developments in the coming days.
Kedia Commodity View
Gold trading range for the day is 79405-80625.
Silver trading range for the day is 90640-93120.
Key Events to Watch This Week
Monday, January 27, 2025
08:30 PM (US): New Home Sales (DEC)
07:00 AM (China): NBS Manufacturing PMI (JAN), Industrial Profits (YTD) YoY (DEC)
Tuesday, January 28, 2025
07:00 PM (US): Durable Goods Orders MoM (DEC)
08:30 PM (US): CB Consumer Confidence (JAN)
Wednesday, January 29, 2025
12:30 AM (US): Fed Interest Rate Decision
01:00 AM (US): Fed Press Conference
Thursday, January 30, 2025
03:30 PM (Euro Area): GDP Growth Rate QoQ Flash (Q4), Unemployment Rate (DEC)
06:45 PM (Euro Area): ECB Interest Rate Decision
07:15 PM (Euro Area): ECB Press Conference
Thursday, January 30, 2025
US
07:00 PM (US): GDP Growth Rate QoQ Adv (Q4),
07:00 PM (US): GDP Price Index QoQ Adv (Q4),
07:00 PM (US): Initial Jobless Claims (JAN/25),
07:00 PM (US): Core PCE Prices QoQ Adv (Q4),
07:00 PM (US): Jobless Claims 4-week Average (JAN/25)
Friday, January 31, 2025
07:00 PM (US): Core PCE Price Index MoM (DEC),
07:00 PM (US):Personal Income MoM (DEC),
07:00 PM (US):Personal Spending MoM (DEC), ‘
07:00 PM (US): PCE Price Index MoM (DEC)
Saturday, February 1, 2025
US: Trump Tariff Orders
11 AM India: Budget Announcement
India: MCX Open for Gold, Silver Trading
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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
