Gold Price Today News: Gold prices faced selling pressure on Tuesday in the international market, though Wednesday’s opening remained flat. The metal continues to hold above the crucial $3,300 level. The U.S. dollar index stayed below 100, reflecting broader weakness in the greenback and offering limited support to precious metals. FOMC minutes will be released tonight.
Trump Warns Putin Amid Escalating Ukraine Conflict
U.S. President Donald Trump on Tuesday issued a stern warning to Russian President Vladimir Putin, accusing him of “playing with fire” by refusing to engage in ceasefire talks with Kyiv, even as Russian forces gained ground in northeast Ukraine.
Trump’s frustration has grown as Russia unleashes some of the war’s deadliest missile and drone attacks while remaining non-committal on ceasefire negotiations.
Trump in a social media post says, “What Vladimir Putin doesn’t realize is that if it weren’t for me, lots of really bad things would have already happened to Russia, and I mean REALLY BAD. He’s playing with fire!”
Germany Issues Strong Warning to Israel Over Gaza
Germany has threatened to take steps against Israel, signaling a shift in tone over the ongoing Gaza conflict. While specifics remain unclear, the diplomatic stance marks increasing international pressure as the humanitarian situation in Gaza worsens.
Citi Maintains Bullish Gold Outlook Amid Risks
Citi has reaffirmed its short-term gold price target at $3,500 an ounce, citing rising tariffs and mounting geopolitical uncertainty.
The bank has also adjusted its price estimate for gold, now projecting a range of $3,100 to $3,500 per ounce. Despite this, Citi retains a cautious stance for the long term.
Dollar Rebound Triggers Bullion Sell-Off
Gold and silver came under heavy selling pressure in international markets after a rebound in the dollar index. The recovery followed the U.S. President’s decision to postpone trade tariffs on the European Union.
Additionally, stronger-than-expected U.S. durable goods orders and improved consumer confidence data on Tuesday lifted equity markets, reducing some of the safe-haven appeal of precious metals.
Nonetheless, ongoing trade uncertainty and geopolitical tensions may continue to support gold and silver at lower levels.
Volatility Expected in Precious Metals: Manoj Kumar Jain
Manoj Kumar Jain, Director at Prithvi Finmart, says, “We expect gold and silver prices to remain volatile this week amid volatility in the dollar index, geo-political tensions and ahead of the FOMC meeting minutes; 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, “Gold has support at $3300-3274, while resistance at $3350-3368 per troy ounce and silver has support at $33.00-32.80, while resistance is at $33.58-33.84 per troy ounce in today’s session.”
Buy on Dips Strategy Recommended for MCX
Jain said, “At MCX, gold is having support at 94800-94400 and resistance at 95500-96000 while silver is having support at 96650-96000 and resistance at 98250-99100.”
He suggests buying gold and silver as long as they hold their key support levels of 94400 and 96650 respectively on a closing basis. “Gold could retest 96000 and silver could also retest 98250-99000 levels in the upcoming sessions,” he added.
JM Financial Gold and Silver Price Outlook
JM Financial Currency Outlook
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.
