Gold Price Today News: Gold prices surged past the $3,300 mark amid escalating geopolitical tensions, as reports emerged that Israel is preparing a potential strike on Iranian nuclear facilities. On the MCX, gold traded above ₹95,000, while silver breached the $33 level.
Israel Strike Threat Raises Global Concerns
CNN, citing multiple U.S. officials, reported that the U.S. has obtained intelligence suggesting Israel is gearing up to strike Iran’s nuclear sites. Such a move would be a sharp departure from President Donald Trump’s approach and could trigger a wider regional conflict. U.S. officials remain divided over the likelihood of an Israeli attack, with the outcome possibly hinging on Israel’s view of U.S.-Iran nuclear negotiations.
Fed Warns on Tariff-Driven Price Pressures
Federal Reserve officials have expressed concern that rising tariffs could push prices higher, although the duration of the impact remains uncertain. Atlanta Fed President Raphael Bostic remarked that companies may have exhausted their ability to shield customers. In contrast, a top White House adviser insisted tariffs have not meaningfully impacted inflation.
ANZ Sees Renewed Gold Interest Amid Economic Uncertainty
ANZ noted, “The likelihood of a slowing economy and stronger inflation has subsequently reignited interest in the precious metal. Sentiment was also supported by ongoing buying from central banks. China imported the most gold in nearly a year in April despite record prices. Total gold imports reached 127.5t, a 73% jump from a month earlier.”
India Allocates UAE Gold Quota, Tightens Import Rules
India has allotted a 180-tonne gold import quota under CEPA with the UAE at a concessional 5% duty for FY26. The DGFT received 2,960 applications—25 times the quota—and rejected 1,400 amid controversy over turnover eligibility. Priority went to those who utilized 80% of their FY25 quota. The government also restricted imports of unwrought and semi-manufactured gold and silver to nominated agencies, qualified jewellers, and CEPA quota holders.
Global and Domestic Economic Updates Support Bullion
Gold and silver rose further in a volatile session on safe-haven buying as Moody’s downgraded the U.S. credit rating amid rising debt. A softer dollar, plunging equities, and rate cuts from China and Australia supported bullion. Canadian inflation surprised to the upside, and weak European consumer confidence added further tailwinds. However, hopes of a Russia-Ukraine ceasefire may cap further gains.
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Manoj Kumar Jain Market Outlook
Gold prices have crossed $3,250 and may test $3,334, while silver could extend gains toward $34 if it sustains above $33. Volatility is expected due to dollar index movement and geopolitical developments. Support for gold lies at $3,255–3,230 and resistance at $3,310–3,334 per troy ounce. Silver has support at $32.84–32.55 and resistance at $33.45–33.80. On MCX, gold support is at ₹94,200–₹93,650 and resistance at ₹95,360–₹95,800. Silver support is at ₹96,650–₹96,000 and resistance at ₹98,000–₹98,850.
Currency Outlook by Manoj Kumar Jain
The USDINR pair is supported at 85.3300–85.0800 and faces resistance at 85.8500–86.1000. It is expected to trade between 84.8000–86.4500 this week.
Augmont Daily Gold Silver Outlook
Technical Triggers
Gold prices may drop to $3200 (~Rs 92000) if they remain below $3265 (~Rs 94000). And we are expected to see a $200 decline from those levels up to $3000 (~Rs 86000) if prices break and hold below $3200, which is the Double Top formation’s neckline support. Silver prices are expected to continue trading in the range of $32(~Rs 94000) and $34(~Rs 98000)as there is no trigger for silver markets.
Kedia Commodity Price Outlook
Gold support is seen at ₹93,470 and a fall could lead to ₹92,095. Resistance is at ₹95,560 with potential to test ₹96,275 if momentum continues. Silver support is at ₹95,680, with ₹94,075 as the next level if broken. Resistance lies at ₹98,110, with potential to move toward ₹98,935.
Kedia Currency Trading Ranges (21 May 2025)
- USDINR: 85.32–85.84
- EURINR: 95.94–96.72
- GBPINR: 114.10–114.80
- JPYINR: 58.68–60.18
Nirmal Bang Prediction for Gold and Silver Prices
JM Financial Gold and Silver Forecast for the Day
Motilal Oswal Group Gold, Silver Price Prediction
Geojit Group Gold, Silver Prices Outlook
JM Financial Currency Level
Big Events of the Week (May 19–23, 2025)Monday, May 19
2:30 PM (EA) – Euro Area: Core Inflation Rate YoY Final (April)
7:30 PM (US) – President Trump’s call with President Putin
2:50 AM (US) – Fed Williams Speech
6:00 PM (US) – Fed Bostic Speech
6:15 PM (US) – Fed Jefferson and Williams Speeches
Tuesday, May 20
6:30 PM (US) – Fed Barkin Speech
6:30 PM (US) – Fed Bostic Speech
Wednesday, May 21
2:30 AM (US) – Fed Kugler Speech
11:30 AM (UK) – UK: Inflation Rate YoY (April)
9:30 PM (US) – Fed Barkin Speech
Thursday, May 22
6:00 PM (US) – Initial Jobless Claims (May week)
6:00 PM (US) – Continuing Jobless Claims (as of May 10)
7:15 PM (US) – S&P Global Services PMI Flash (May)
7:30 PM (US) – Existing Home Sales (April)
Friday, May 23
5:00 AM (JP) – Japan: Inflation Rate YoY (April)
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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.
