Gold Price Today News, JP Morgan Gold Price Forecast: As the Israel-Iran conflict entered its fifth day, U.S. President Donald Trump announced his early departure from the Group of Seven (G7) summit in Canada, signaling heightened urgency in Washington’s response to the unfolding crisis in the Middle East. Trump is flying back to the U.S. following his stern warning urging residents of Tehran to evacuate, as Israel ramps up strikes targeting Iran’s nuclear infrastructure.
The President’s abrupt exit has sparked speculation that the U.S. may intensify its backing of Israeli Prime Minister Benjamin Netanyahu’s ongoing military operation. However, top U.S. officials maintained that Trump is still pursuing a diplomatic path to de-escalate the conflict.
According to an Axios report, the White House is in backchannel talks with Iran over a potential meeting between U.S. envoy Steve Witkoff and Iranian Foreign Minister Abbas Araghchi. The meeting, if confirmed, could pave the way for renewed negotiations over Iran’s nuclear program and an end to hostilities. “While the meeting is not yet finalized, it reflects President Trump’s urgent push to shift away from military confrontation and toward a possible diplomatic breakthrough,” the report said.
Meanwhile, China has warned that any further escalation or spillover of the conflict could trigger wider instability across the Middle East, calling on all sides to show restraint. The G7 leaders echoed this concern, issuing a joint statement on Tuesday:
“We affirm that Israel has a right to defend itself. We reiterate our support for the security of Israel.”
On the economic front, the Bank of Japan held its benchmark interest rate steady at 0.5% and announced plans to gradually reduce its government bond purchases beginning April 2026. This comes amid concerns about rising growth risks, according to Reuters.
In the backdrop of geopolitical uncertainty, gold prices continue to surge, with JP Morgan offering a bullish long-term outlook.
In its latest note, the bank stated:
“Gold prices have surged in 2025, with President Trump’s focus on tariffs pushing the metal to fresh highs. Longer term, the 2025 and 2026 outlook for the metal remains bullish. Prices are expected to average $3,675/oz by the fourth quarter of 2025 and climb toward $4,000 by mid-2026. Central bank and investor demand for gold is set to remain strong, averaging around 710 tonnes a quarter this year.”
Gregory Shearer, Head of Base and Precious Metals Strategy at J.P. Morgan, added:
“Central Banks aren’t done with gold yet, with added political uncertainty likely helping to stoke a continued revival in 2025. We think gold’s safe-haven hedging benefits will continue to stoke additional ETF demand outside of the traditional driver of falling real yields, particularly as focus has turned aggressively toward hedging the combination of inflation and growth risks.”
Manoj Kumar Jain, Director at Prithvi Finmart, commented on market dynamics:
“Global uncertainty and geo-political tensions could support prices of precious metals. We expect gold and silver prices to remain volatile this week amid volatility in the dollar index, geo-political tensions and Fed monetary policy meetings but gold prices could hold its key support level of $3,284 per troy ounce and silver prices could also hold $34.00 per troy ounce levels on a weekly closing basis.”
Jain provided the following technical levels:
- Gold: Support at $3400–3374, resistance at $3445–3468
- Silver: Support at $36.10–35.80, resistance at $36.74–37.10
- MCX Gold: ₹98,550–97,700 support, ₹99,800–1,00,400 resistance
- MCX Silver: ₹1,05,800–1,05,000 support, ₹1,07,200–1,08,000 resistance
“Buy silver on dips around ₹1,05,800 with a stop loss of ₹1,04,750 for targets of ₹1,07,000–1,07,700,” he advised.
Kedia Commodity reported that gold is in a phase of long liquidation, with open interest falling by 9.54% to 15,619 contracts.
- Key support lies at ₹98,310 and ₹97,440
- Resistance is at ₹1,00,565, with potential upside toward ₹1,01,950 if breached
Silver, on the other hand, is experiencing short covering, with open interest down 2.92% to 16,870.
- Support: ₹1,06,005 and ₹1,05,450
- Resistance: ₹1,07,155, with potential breakout toward ₹1,07,750
Nirmal Bang Sec Gold and Silver Forecast
Big Events of The Week
Tuesday, June 17, 2025
Japan
08:30 AM – Bank of Japan Interest Rate Decision
United States
06:45 PM – US Industrial Production data for May
Wednesday, June 18, 2025
United Kingdom
11:30 AM – UK Inflation Rate Year-on-Year for May
United States
11:30 PM – US Federal Reserve Interest Rate Decision
11:30 PM – FOMC Economic Projections
11:30 PM – Interest Rate Projections for 2025 and 2026
12:00 AM (June 19) – Fed Chair Press Conference
Thursday, June 19, 2025
United States
US markets will remain closed in observance of Juneteenth National Independence Day
Euro Area
01:00 PM – ECB President Christine Lagarde Speech
United Kingdom
04:30 PM – Bank of England Interest Rate Decision
Friday, June 20, 2025
China
06:45 AM – China Loan Prime Rate Decision for 1-Year and 5-Year terms (June)
United States
07:30 PM – US Conference Board Leading Index for May
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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.
