Gold Price Today News: Gold and silver prices posted gains in today’s session, supported by firm global cues and steady central bank demand. Internationally, gold continues to trade above the $3,300 per ounce mark, while silver is holding strong above $36 per ounce. On the domestic front, MCX gold was trading above ₹96,500, with silver climbing past ₹1,05,000 per kg.
Focus on U.S.-China Talks as Markets Monitor Developments
Market participants are keeping a close eye on the ongoing U.S.-China trade talks in London, which could influence sentiment. Meanwhile, central banks remain active in the gold market, with the People’s Bank of China (PBOC) extending its buying streak for the seventh straight month in May. China’s gold reserves increased by nearly 2 tonnes last month, bringing year-to-date net purchases to 17 tonnes and lifting total reserves to 2,296 tonnes.
Poland Leads Central Bank Gold Buying in 2025
Poland also continued its aggressive accumulation, adding 6 tonnes of gold in May—its fifth consecutive month of buying. The National Bank of Poland’s total gold reserves now stand at 515 tonnes, with year-to-date net purchases reaching 67 tonnes, the highest among all central banks.
Cambodia and Ghana Also Add to Gold Reserves
Updated IMF figures show Cambodia increased its gold holdings by 7 tonnes between January and April 2025, raising its reserves to 53 tonnes. Meanwhile, the Bank of Ghana added 1 tonne in May, bringing its year-to-date purchases to 2 tonnes and total holdings to 32 tonnes.
China’s Inflation Stays Negative Despite Stimulus
On the macroeconomic front, China’s consumer prices declined for a fourth consecutive month in May, highlighting continued weakness in domestic demand despite ongoing stimulus efforts. The Consumer Price Index (CPI) fell 0.1% year-on-year, slightly better than the 0.2% drop forecast by analysts.
Exports Disappoint, Imports Slide Sharply
China’s export growth also came in below expectations, rising 4.8% in May—short of the 5% forecast—despite a temporary truce in trade tensions with the U.S. Imports plunged 3.4%, well beyond the anticipated 0.9% decline, underscoring the country’s subdued domestic demand.
Chinese Speculators Push SHFE Gold to Record Highs
Meanwhile, Chinese gold speculators are fueling a rally on the Shanghai Futures Exchange (SHFE), pushing gold prices to record highs despite muted ETF inflows and limited participation from Western investors. According to Daniel Ghali, Senior Commodity Strategist at TD Securities, “Our analysis of positioning among the largest traders in SHFE Gold shows this group has built an all-time-high position… signs of selling exhaustion continue to permeate from this segment.”
Manoj Kumar Jain: Expect Volatility in Precious Metals
According to Manoj Kumar Jain, both gold and silver showed sharp volatility last week. Gold struggled to sustain above $3,400 amid stronger U.S. job data and a rebound in the dollar, while silver outperformed, hitting a 13-year high globally and an all-time high in the Indian market.
Support and Resistance Levels for the Week
“We expect gold and silver prices to remain volatile this week amid fluctuations in the dollar index, geopolitical tensions, and the upcoming U.S. inflation data. Gold could hold support at $3,240 and silver at $34 on a weekly close,” Jain said. He added that gold has support at $3,320–3,284 with resistance at $3,364–3,400 per ounce. For silver, support lies at $35.80–35.50 and resistance at $36.45–36.80. On MCX, gold support is seen at ₹96,600–96,100 and resistance at ₹97,700–98,200, while silver has support at ₹1,04,400–1,03,650 and resistance at ₹1,06,500–1,07,400.
JM Financial: Upside Potential for Gold and Silver
JM Financial maintains a bullish stance, noting that gold remains positive with support at ₹96,100/₹94,500 and upside potential toward ₹99,850/₹1,01,000. Silver is seen positive with support at ₹1,02,000/₹97,000 and may test ₹1,09,500/₹1,20,000 on the higher side.
Kedia Commodity: Key Levels to Watch Today
Kedia Commodity highlights that gold has support at ₹96,405, with a break potentially leading to ₹95,770. Resistance is pegged at ₹98,125, above which prices could rise toward ₹99,210. For silver, immediate support is at ₹1,04,870 with further downside to ₹1,04,290. Resistance is expected at ₹1,06,085, and a move above this level could open the path to ₹1,06,720.
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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.
