Gold Price Today News: In a dramatic move ahead of his highly anticipated speech, U.S. Federal Reserve Chair Jerome Powell received a handwritten letter from President Donald Trump demanding immediate rate cuts. Trump took to social media, blasting Powell and the Federal Reserve Board for “failing the country,” stating:
“Jerome ‘Too Late’ Powell, and his entire Board, should be ashamed of themselves for allowing this to happen to the United States… We should be paying 1% Interest, or better.”
Trump’s aggressive stance comes amid rising concerns over economic headwinds and soaring interest costs. Powell is scheduled to speak tonight at 7 PM IST, with markets on edge for potential clues on future monetary policy.
China’s Factory Activity Rebounds Amid Export Resilience
In contrast, China’s manufacturing sector showed signs of recovery in June. The Caixin/S&P Global Manufacturing PMI rose to 50.4, beating expectations and signaling renewed expansion following May’s contraction of 48.3. Export-oriented producers led the rebound, providing a positive signal for China’s industrial outlook despite ongoing global trade disruptions.
Gold Rebounds from 5-Week Lows; Silver Holds Firm
Gold prices recovered from recent five-week lows on bargain buying and weakness in the U.S. dollar, which slipped to 43-month lows due to a shrinking U.S. GDP and surging Euro strength. Inflation fears and high trade tariffs continue to pressure the dollar, offering support to precious metals. Silver held firm after weak Chinese data, maintaining key technical levels.
Outlook: Volatility to Continue Ahead of U.S. Jobs Data
Manoj Kumar Jain, Director, Prithvi Finmart, noted:
“We expect gold and silver prices to remain volatile this week amid dollar index swings, geopolitical risks, and upcoming U.S. jobs data. Gold could hold $3,200/oz and silver $35.00/oz on a weekly closing basis.”
- Gold Support: $3284–3266 | Resistance: $3327–3345
- Silver Support: $35.80–35.55 | Resistance: $36.30–36.60
- MCX Gold: ₹95,700–₹95,220 | Resistance: ₹96,600–₹97,000
- MCX Silver: ₹1,05,500–₹1,04,850 | Resistance: ₹1,07,000–₹1,07,700
Kedia Commodity Technical View
- Gold: Support at ₹95,575, with potential dip to ₹95,075. Resistance at ₹96,380–₹96,685.
- Silver: Support at ₹1,04,910, with risk of falling to ₹1,04,365. Resistance at ₹1,05,895–₹1,06,335.
Augmont Gold and Silver Prediction
Motilal Oswal Gold Silver Forecast
Events to Watch: June 30 – July 7, 2025 (IST)
📅 Tuesday, July 1, 2025
Euro Area
- 12:30 AM – ECB President Lagarde Speech
- 02:30 PM – Inflation Rate YoY Flash (June)
US
- 07:00 PM – Fed Chair Powell Speech
- 07:30 PM – ISM Manufacturing PMI (June)
- 07:30 PM – JOLTs Job Openings
📅 Wednesday, July 2, 2025
US
- 05:45 PM – ADP Employment Change (June)
📅 Thursday, July 3, 2025
US
- 06:00 PM – Non-Farm Payrolls (June)
- 06:00 PM – Unemployment Rate (June)
- 06:00 PM – Initial Jobless Claims
- 07:30 PM – ISM Services PMI (June)
- 07:30 PM – Factory Orders MoM (May)
- 08:30 PM – Fed Bostic Speech
🌍 Other Major Events This Week
Russia–Ukraine standoff
BRICS Summit: July 6–7, 2025
Trump Tariff Statement: Expected this week
US–China Tariff Deal: Updates anticipated
Geopolitical Tensions:
Iran–Israel conflict
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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.
