Gold Price Today News: Gold prices remained above $3,300 per ounce on Monday, supported by heightened geopolitical tensions and a weaker U.S. dollar. Silver prices also showed strength, although both metals witnessed mild profit-booking after last week’s solid gains. The pause in U.S. tariffs on the European Union, along with thinned volumes due to the Memorial Day holiday in U.S. markets, led to a subdued session.
China’s Industry Defies Tariff Pressures
China’s industrial profits rose 3% in April despite the weight of stiff U.S. tariffs. For the January-April period, profits were up 1.4% year-on-year. However, state-owned industrial firms reported a 4.4% drop in profits, reflecting uneven performance across sectors.
Ukraine Cleared to Use Long-Range Western Arms
German Chancellor Friedrich Merz announced that Ukraine has been granted permission to use Western-supplied weapons to strike deep inside Russian territory, with no range limitations.
Lagarde: Euro Could Rival Dollar—If EU Reforms
The euro could become a viable alternative to the U.S. dollar—bringing substantial benefits to the 20-nation bloc—if European governments strengthen financial and security structures, ECB President Christine Lagarde said Monday. Amid growing unease over erratic U.S. policy, global investors have trimmed exposure to dollar assets. Still, many have turned to gold over the euro due to the absence of a clear substitute.
Russia Dismisses Vatican as Peace Mediator
Russia reportedly does not view the Vatican as a serious venue for peace talks, citing the shared Eastern Orthodox background of Russia and Ukraine and the Vatican’s location within NATO-member Italy.
Confusion Over Gaza Ceasefire Proposal
A Palestinian official said Monday that Hamas had accepted a Gaza ceasefire plan put forth by U.S. special envoy Steve Witkoff. However, an Israeli official denied that the proposal came from Washington, stating no Israeli government could approve such terms. Witkoff also refuted the claim, telling Reuters the plan being discussed was “completely unacceptable” and different from what he had proposed.
Gold and Silver Outlook This Week – Prithvi Finmart
Manoj Kumar Jain, Director at Prithvi Finmart, said, “We expect gold and silver prices to remain volatile this week amid volatility in the dollar index, global bond markets, and geopolitical tensions; gold prices could hold its support level of $3,200 per troy ounce and silver prices could also hold $31.80 per troy ounce levels on a weekly closing basis.” He added that gold has support at $3,370–3,345 and resistance at $3,415–3,440 per troy ounce, while silver’s support lies at $33.30–33.00 and resistance at $33.88–34.20. On MCX, gold is supported at ₹95,400–₹94,950 with resistance at ₹96,650–₹97,200, and silver at ₹97,200–₹96,650 with resistance at ₹98,850–₹99,500. “We suggest buying gold and silver on dips, expecting a trading range for gold between ₹94,800–₹96,650 and for silver ₹96,650–₹99,500 in today’s session,” Jain noted.
Currency Outlook – Prithvi Finmart
Commenting on the currency pair, Jain added, “As per the daily technical chart, the pair is having support at 84.8000–84.4500 while resistance is placed at 85.3500–85.6600. A pair is trading below its support level of 85.4700 and expected to trade in the range of 84.2000–86.5500 this week. We suggest avoiding short positions in the pair at current level and wait for some more corrective dips for initiating fresh long positions.”
Gold and Silver Technical View – Kedia Commodity
According to Kedia Commodity, gold is finding support at ₹95,600, and a break below this level could push prices down to ₹95,255. On the upside, resistance is seen at ₹96,195, with a move above possibly driving prices toward ₹96,445. For silver, support lies at ₹97,610 and a fall below that could test ₹97,220. Resistance is at ₹98,345, with a breakout likely to take prices to ₹98,690.
Nirmal Bang View on Gold and Silver Outlook
JM Financial View on Gold and Silver Price Outlook
SMC Global View on Gold and Silver Prices
Kedia Commodity on Currency
USDINR trading range for the day is 84.65-85.43.
EURINR trading range for the day is 96.52-97.32.
GBPINR trading range for the day is 115-115.86.
JPYINR trading range for the day is 59.27-60.15.
Big Events of the Week – May 26 to May 31, 2025
Monday, May 26, 2025
US Market Holiday – Memorial Day
12:10 AM – US: Fed Chair Powell Speech
06:50 PM – EA: ECB President Lagarde Speech
Tuesday, May 27, 2025
07:30 PM – US: CB Consumer Confidence (May)
Wednesday, May 28, 2025
05:30 AM – US: Fed Williams Speech
07:30 PM – US: Richmond Fed Manufacturing Index (May)
11:30 PM – US: FOMC Minutes
Thursday, May 29, 2025
06:00 PM – US: GDP Growth Rate QoQ 2nd Est (Q1)
06:00 PM – US: Initial Jobless Claims
06:00 PM – US: Core PCE Prices QoQ 2nd Est (Q1)
Friday, May 30, 2025
01:30 AM – US: Fed Daly Speech
06:00 PM – US: Core PCE Price Index MoM (Apr)
06:00 PM – US: Personal Income MoM (Apr)
07:30 PM – US: Michigan Consumer Sentiment Final (May)
09:50 PM – US: Fed Bostic Speech
Saturday, May 31, 2025
05:00 AM – US: Fed Goolsbee Speech
Other Key Events
– Trump Statement
– Russia–Ukraine Tension
– Middle East Tension
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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.
