Gold Price Today News: U.S. President Donald Trump notched a major legislative victory as his sweeping economic package—dubbed the “big, beautiful bill”—was passed by Congress and now awaits his signature. The bill, which includes significant tax cuts and government spending plans, is seen as a cornerstone of Trump’s pro-growth economic agenda.
While the U.S. market remained closed on Friday for the Independence Day holiday, political and economic developments continued to drive global attention.
Ceasefire Decision Looms in Gaza
President Trump said on Friday that a decision from Hamas regarding a proposed Israel-Gaza ceasefire could be expected within 24 hours. Referring to it as a “final proposal,” Trump suggested this could mark a turning point in efforts to end the conflict.
The President also revealed talks with Saudi Arabia to expand the Abraham Accords—his administration’s diplomatic initiative to normalize ties between Israel and Gulf nations during his first term.
Disappointment Over Putin Call, Talks with Zelensky Ahead
Trump said he was left “disappointed” after a phone call with Russian President Vladimir Putin, noting that the Kremlin does not appear serious about ending its war in Ukraine. “We’re not seeing any signs of serious change,” Trump remarked, adding that he would be speaking with Ukrainian President Volodymyr Zelenskyy later on Friday. Meanwhile, Russia launched a fresh drone attack on Kyiv overnight, injuring 23 people.
Tariff Clock Ticking as July 9 Deadline Nears
On the trade front, Trump stated that his administration could begin notifying U.S. trading partners as early as Friday about new unilateral tariff rates. The move is aimed at enforcing terms ahead of the July 9 deadline for concluding trade negotiations.
While deals have been finalized with the UK and Vietnam—and a temporary tariff truce reached with China—key negotiations are still underway with major allies like Japan, South Korea, the European Union, and India. Trump voiced optimism about reaching a deal with India but was less positive about Japan’s prospects.\
The U.S. added 147,000 jobs in June, beating expectations of 111,000. The unemployment rate dropped to 4.1%, and jobless claims declined to 233,000. Strong labor data eased safe-haven demand for gold but supported silver amid easing tariff uncertainty following the U.S.-Vietnam deal.
Market View: Manoj Kumar Jain, Prithvi Finmart
“We expect gold and silver prices to remain volatile in today’s session amid dollar index fluctuations and U.S. trade updates,” said Manoj Kumar Jain of Prithvi Finmart. “Gold could hold support at $3,280/oz, while silver may find a floor at $36.00/oz on a weekly basis.”
- Gold (COMEX) Support: $3,320–$3,300 | Resistance: $3,366–$3,384
- Silver (COMEX) Support: $36.74–$36.40 | Resistance: $37.40–$37.70
- MCX Gold Support: ₹96,360–₹95,950 | Resistance: ₹97,100–₹97,440
- MCX Silver Support: ₹1,07,400–₹1,06,650 | Resistance: ₹1,08,850–₹1,09,500
Trade Recommendation:
Buy silver on dips near ₹1,07,400 with stop loss of ₹1,06,650 and target ₹1,08,800.
Kedia Commodity Technical View
- Gold: Under long liquidation; open interest down 6.11%. Support at ₹96,230; next at ₹95,675. Resistance at ₹97,560; breakout may lead to ₹98,335.
- Silver: Under short covering; open interest down 1.27%. Support at ₹1,07,390; deeper support at ₹1,06,545. Resistance at ₹1,08,905; breakout could drive prices to ₹1,09,575.
Augmont Gold and Silver Predictions
Nirmal Bang Gold and Silver Price Views
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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.
