Gold Price Today News: Gold prices climbed nearly 1% today, surpassing the $3,325 per ounce mark, while silver continued to trade strongly above $33. On the MCX, gold breached the ₹96,000 level, and silver maintained momentum above ₹98,000.
U.S. and China Keep Diplomatic Channels Open
The United States and China have agreed to maintain open lines of communication following a phone call between Chinese Vice Foreign Minister Ma Zhaoxu and U.S. Deputy Secretary of State Christopher Landau, according to a brief statement from China’s Foreign Ministry issued Friday.
Japan’s Inflation Rises Amid Tariff Concerns
Japan’s core inflation rose to 3.5% in April, boosted partly by a surge in rice prices, according to data released Friday. The increase comes as the Bank of Japan considers pausing interest rate hikes to assess the potential impact of new U.S. tariffs. The core inflation figure, which excludes fresh food prices, exceeded the 3.4% forecast by Reuters and rose from 3.2% in March, hitting its highest level since January 2023.
CBA Forecasts Gold to Hit $3,750 Amid Global Uncertainty
Gold prices could reach $3,750 per ounce by the fourth quarter, driven by growing safe-haven demand and a weakening U.S. dollar, according to the Commonwealth Bank of Australia (CBA). Vivek Dhar, Director of Mining and Energy Commodities Research at CBA, identified escalating geopolitical tensions—particularly the risk of military conflict with Iran—as a key factor supporting this bullish outlook. “The threat of military strikes against Iran cannot be ruled out, which raises the stakes if U.S.-Iran talks remain deadlocked,” Dhar said. CBA also anticipates a steady decline in the dollar through the second half of 2025 into 2026, further supporting gold prices.
Asian ETFs Fuel Gold Rally But Caution Looms
Asian ETF buying has become a significant force behind gold’s recent rally, but prices may fall by up to 10% by year-end if geopolitical tensions ease and U.S. stimulus measures expand, said Suki Cooper, Precious Metals Analyst at Standard Chartered. “I think the number of factors that have led this gold rally,” she told Bloomberg Television. “Part of them were laid back in 2022 when we saw central bank buying really pick up, and that’s been a core driver that sustained this rally; the downside has been very well supported. But the big shift that we’ve seen over the past three months has been the inflows of ETFs. That was largely absent, if you look at most of the 2024 rally, but that’s really provided that additional catalyst coming into this year.”
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Gold May Hold Elevated Levels but Peak Could Be In Sight
“But as we’re going into the end of the year – we think that if we see rate cuts, that could be a surprise that lifts gold up again – but if we start to see stimulus measures in the U.S. and we start to see some of the uncertainty around geopolitical risks starting to unwind, we could actually see gold starting to stabilize at elevated levels,” Cooper said. “So remaining above $3,000, but perhaps potentially past its peak by the end of the year.”
Bond Yield Volatility and Bitcoin Gains Prompt Profit Booking
Gold and silver experienced high volatility in early trade, gaining initially before succumbing to profit booking, said Manoj Kumar Jain of Prithvi Finmart. Rising global bond yields and a strong performance by Bitcoin contributed to investor caution. The weak response to the U.S. 20-year bond auction and the surge in 30-year yields above 5%—alongside Japan’s 30-year yield jumping to 3.18%—added uncertainty to financial markets. However, persistent geopolitical tensions and equity market weakness are likely to support safe-haven demand.
Gold and Silver Technical Levels Remain Crucial
Jain expects gold to hold support near $3,240 per ounce and silver at $32.40 on a closing basis. Gold faces resistance at $3,334–$3,358, with support at $3,268–$3,240, while silver has resistance at $33.55–$33.80 and support at $32.84–$32.40. On the MCX, gold is supported at ₹95,050–₹94,600 and faces resistance at ₹96,000–₹96,650; silver support lies at ₹97,000–₹96,300 with resistance at ₹98,500–₹99,300.
Currency Pair Outlook Holds Steady
On the currency front, Jain noted that the pair is supported at 85.8500–85.4300 and faces resistance at 86.4500–86.8000. The pair is expected to trade within this range in the current session.
Kedia Commodity Sees Tight Range for Gold
Kedia Commodity analysts noted immediate gold support at ₹95,025, with a drop below likely testing ₹94,520. Resistance is seen at ₹96,210, with a potential move toward ₹96,890. A further resistance zone lies at ₹99,220, and breaching that could take prices up to ₹100,650.
Augmont Gold Price Outlook
Gold: Prices are expected to remain range-bound between $3,275 (approx. ₹95,000) and $3,375 (approx. ₹96,400) in the near term. A breakout or breakdown beyond this range could trigger a move of 2–3%.
Silver: As anticipated, silver failed to sustain above the $34 mark, prompting a reversal and profit booking at those levels. The metal is likely to continue consolidating in the $32.5 (approx. ₹96,000) to $34 (approx. ₹99,000) range in the short term.
Motilal Oswal Group Gold silver price prediction
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.
