Gold Price Today News: Gold prices edged higher while silver remained steady in early trade on Wednesday as investors awaited key U.S. Producer Price Index (PPI) data due this evening. Markets are now closely watching economic indicators to gauge the Federal Reserveโs next move on interest rates.
Trump Announces Tariffs on Indonesia, Signals Drug Import Duties
U.S. President Donald Trump said the U.S. has reached a new trade agreement with Indonesia under which Indonesian goods will face a 19% tariff. In return, Indonesia will remove duties on U.S. imports and purchase over $19 billion worth of American goods.
Trump also said that letters outlining new tariff ratesโexpected to exceed 10%โwill soon be issued to several smaller countries. Additionally, he hinted that drug imports could face tariffs by August 1 to boost domestic pharmaceutical manufacturing, signaling a more aggressive stance on trade enforcement.
U.S. Inflation Rises as Tariffs Feed Through to Consumers
The U.S. Consumer Price Index (CPI) rose 0.3% in June, up from 0.1% in May, translating to an annualized inflation rate of around 3.5%. Rising costs in coffee, electronics, and home furnishings contributed to the increaseโan indication that higher import tariffs are being passed on to consumers.
Fed officials had anticipated a summer pickup in inflation, and the data is likely to keep policymakers cautious about cutting rates too soon
UK Inflation Surprises at 3.6% in June
Adding to global inflation concerns, the UK also reported stronger-than-expected inflation at 3.6% in June, adding further pressure on central banks to stay cautious on rate decisions.
Putin Unmoved by Trumpโs Warnings, War in Ukraine Continues
Despite threats from President Trump of intensified sanctions, Russian President Vladimir Putin remains determined to pursue military action in Ukraine until Western powers accept peace terms favorable to Moscow, according to Kremlin insiders.
Several European countries, meanwhile, expressed openness to joining Trumpโs arms supply program for Ukraine, though logistical details are still being finalized.
Trump Doubles Down on Putin Distrust
President Trump reiterated his skepticism toward Vladimir Putin, stating: โHe fooled Clinton, Bush, Obama, Biden. He didnโt fool me.โ
In a separate interview with the BBC, when asked directly if he trusted Putin, Trump replied after a pause, โI trust almost nobody, to be honest with you.โ The comment, while cautious, comes against a backdrop of years in which Trump has frequently offered praise for the Russian leader.
Inflation Weighs on Gold, Silver as Dollar Index Surges
Gold and silver extended losses during a volatile session after U.S. inflation data came in hotter than expected. The June CPI rose 0.3%, while annual core inflation hit 2.9%. The stronger dollar index, which climbed above 98 to a three-week high, added to the pressure on bullion. However, global trade uncertainty may offer some support at lower levels.
Price Levels and Trading Outlook
Manoj Kumar Jain:
โWe expect gold and silver to remain volatile amid ongoing global tariff tensions. Gold has support at $3,280 and silver at $36.40 per ounce for the week.โ
- Gold: Support at $3320โ3309, resistance at $3350โ3366
- Silver: Support at $37.80โ37.40, resistance at $38.40โ38.70
- MCX Gold: โน96,950โ96,600 support, resistance at โน97,440โ97,770
- MCX Silver: โน1,10,500โ1,09,700 support, resistance at โน1,12,200โ1,13,000
Jain advised against initiating fresh long positions ahead of the PPI release but suggested investors could accumulate on dips.
Technical Views from Kedia Commodity and SMC Global
Kedia Commodity:
- Gold: Immediate support at โน96,800, resistance at โน97,855โ98,495
- Silver: Support at โน1,10,710, deeper at โน1,09,940; resistance at โน1,12,595โ1,13,710
SMC Global:
- Gold Range: โน97,100โโน97,500
- Silver Range: โน1,12,500โโน1,13,300 (bearish trend continues)
Nirmal Bang View on gold and silver Price
Motilal Oswal group View on gold and silver Price
Geojit Group gold and silver price predictions
Big Events of The Week
Wednesday, July 16, 2025
๐บ๐ธ United States
โข 12:15 AM โ Fed President Susan Collins speech
โข 05:15 AM โ Fed President Lorie Logan speech
โข 06:00 PM โ Producer Price Index (PPI) MoM (June)
โข 06:45 PM โ Industrial Production MoM (June)
๐ฌ๐ง United Kingdom
โข 11:30 AM โ Inflation Rate YoY (June)
Thursday, July 17, 2025
๐บ๐ธ United States
โข 04:00 AM โ Fed President John Williams speech
โข 06:00 PM โ Retail Sales MoM (June)
โข 06:00 PM โ Initial Jobless Claims (Weekly)
๐ช๐บ Euro Area
โข 02:30 PM โ Final Inflation Rate MoM (June)
Friday, July 18, 2025
๐ฏ๐ต Japan
โข 05:00 AM โ Inflation Rate YoY (June)
๐บ๐ธ United States
โข 07:30 PM โ University of Michigan Consumer Sentiment (Preliminary, July)
Sunday, July 20, 2025
๐จ๐ณ China
โข 06:45 AM โ Loan Prime Rate โ 1 Year
โข 06:45 AM โ Loan Prime Rate โ 5 Year
๐ Other Key Developments to Watch
- ๐บ๐ธ Trumpโs Statements on tariffs, foreign policy, and trade talks
- ๐ท๐บ๐บ๐ฆ RussiaโUkraine war updates
- ๐ฎ๐ฑ๐ต๐ธ IsraelโGaza ceasefire developments
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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.
