Gold Price Today News: Gold and silver prices opened on a positive note Wednesday, buoyed by progress in high-stakes trade negotiations between the United States and China. On COMEX, gold hovered above $3,350 per ounce, while silver traded over $36.50. The two global powers announced they had reached a framework agreement in London to revive their trade truce. U.S. inflation data is scheduled for release today at 6 PM IST. Markets are anticipating a decline in the figures. Investors are advised to closely monitor the data for potential market-moving cues.
Framework to be Reviewed by Presidents: Officials stated the agreed framework will now be sent to U.S. President Donald Trump and Chinese President Xi Jinping for final approval. This follows a breakthrough agreement reached in Geneva last month that halted new tariff impositions for 90 days.
“We have reached a framework to implement the Geneva consensus and the call between the two presidents,” U.S. Commerce Secretary Howard Lutnick told reporters. He added that the deal aims to resolve restrictions on rare earth minerals and magnets—key components in various high-tech industries.
August 10 Deadline Looms Over Broader Deal: Both nations have until August 10 to negotiate a broader trade agreement. If talks fail, tariff rates will sharply rebound—from about 30% to 145% on U.S. imports and from 10% to 125% on Chinese goods.
Trump Tariffs Temporarily Upheld by Appeals Court: In related news, a federal appeals court in Washington, D.C., allowed President Donald Trump’s “Liberation Day” tariffs to remain in effect. The U.S. Court of Appeals for the Federal Circuit is reviewing a lower court’s ruling that said Trump may have overstepped his authority. The tariffs impact most U.S. trading partners, including Canada, China, and Mexico.
Japan Wholesale Inflation Slows; BOJ Faces Dilemma: Japan’s wholesale inflation came in at 3.2% in May, missing forecasts of 3.5%. The decline was driven by falling steel and chemical prices, even as food inflation accelerated. Economists believe this could stall future rate hikes.
“The BOJ may have lost the opportunity to raise interest rates because inflation will have slowed significantly by the time the fog hanging over Japan’s tariff talks (with the U.S.) clears,” one analyst said.
World Bank Cuts Global Growth Outlook: The World Bank projected global growth to slow to 2.3% in 2025, down nearly half a percentage point from earlier expectations. “A global recession is not expected. Nevertheless, if forecasts for the next two years materialize, average global growth in the first seven years of the 2020s will be the slowest of any decade since the 1960s,” it noted.
Gold to Defy Broader Commodity Trend: World Bank: Despite the slowdown, the World Bank’s Global Economic Prospects (GEP) report highlighted precious metals as a bright spot. “The precious metals price index—reflecting principally gold but also silver and platinum—is projected to buck the broader trend, increasing by more than 30 percent in 2025,” the report said. Gold prices are expected to hit new all-time highs this year before stabilizing in 2026–27.
Jewelry Retailers Shine Despite Price Pressures
India’s top jewellery brands reported strong sales during the recent quarter. Titan, Kalyan, Senco, P N Gadgil, and Thangamayil posted revenue growth of 25%, 37%, 21%, 50%, and 41% respectively, supported by upbeat sentiment during Akshaya Tritiya. However, high gold prices have pushed buyers toward lower caratage and lightweight products.
Motilal Oswal remains optimistic: “We remain positive on the jewelry category and anticipate ongoing rapid shifts in consumer purchasing behavior, transitioning from unorganized/local to organized channels.”
Wells Fargo Eyes New Gold Highs in 2026: Wells Fargo’s 2025 midyear outlook projects continued gains for gold, driven by geopolitical tensions and economic uncertainty.
“We believe that material commodity price corrections have created attractive opportunities to position for an improved economic environment later this year and into 2026,” the analysts wrote.
“We expect improved U.S. economic conditions later in 2025 to drive demand growth for commodities, especially areas that are more cyclically sensitive.” The bank sees a slight pullback to $3,000–$3,200 by year-end, followed by a rally to $3,600 per ounce by late 2026.
Volatility Ahead: Manoj Jain on Market Outlook: Market expert Manoj Kumar Jain noted a volatile session ahead of key U.S. inflation data. He said the ongoing US-China talks and strength in equity markets have capped safe-haven buying, though weakness in the dollar index and global growth concerns are supportive.
“We expect gold and silver prices to remain volatile this week… gold prices could hold its key support level of $3,240 per troy ounce and silver prices could also hold $34.00 per troy ounce levels on a weekly closing basis,” he said.
Technical Levels to Watch
- Gold support: $3,330–$3,310 | Resistance: $3,364–$3,380
- Silver support: $36.40–$36.00 | Resistance: $36.88–$37.20
- On MCX: Gold ₹96,600–₹96,180 (support), ₹97,200–₹97,550 (resistance); Silver ₹1,06,000–₹1,05,350 (support), ₹1,07,400–₹1,08,200 (resistance)
Currency View: Rupee Outlook
According to Jain, the USD/INR pair is expected to trade in the 84.40–86.80 range this week. “A pair is trading at its support level of 85.6400 and expected to trade in range… We suggest avoiding fresh positions in today’s trading session ahead of the U.S. inflation data.”
Kedia Commodity Gold Silver Forecast
Gold Immediate support is at ₹96,295, and a break below could push prices toward ₹95,680. On the upside, resistance lies at ₹97,505, and a move above this level could lead to testing ₹98,100. Silver . Support lies at ₹1,06,110, with further downside risk toward ₹1,05,475. Resistance is seen at ₹1,07,375, and a break above could push prices to ₹1,08,005.
Key Economic Events and Data Releases – Week of June 9, 2025
Monday, June 9, 2025
- 05:20 AM (JST) – Japan: Final GDP Growth Rate QoQ (Q1)
- 07:00 AM (CST) – China: Consumer Inflation Rate YoY (May)
- 08:30 PM (EDT) – United States: Consumer Inflation Expectations (May)
Wednesday, June 11, 2025
- 06:00 PM (EDT) – United States: Core Inflation Rate MoM (May)
- 06:00 PM (EDT) – United States: Headline Inflation Rate MoM (May)
- 11:30 PM (EDT) – United States: Monthly Budget Statement (May)
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.
