Gold Price Today News: Gold opened lower on Friday as a mix of geopolitical and legal headlines influenced market sentiment. A U.S. federal appeals court granted President Donald Trump’s administration a temporary stay on a ruling that struck down most of his tariffs. Meanwhile, Israel agreed to a U.S.-brokered ceasefire proposal with Hamas. With gold and silver remaining highly sensitive to global events, investors now turn their attention to the U.S. Core PCE Price Data due this evening. In Spot market gold is trading below 3300 Dollar, on MCX gold trading below 95000.
Court Grants Trump Tariff Relief, Markets React
A federal appeals court has approved the Trump administration’s request to temporarily halt a lower-court decision that invalidated the majority of President Donald Trump’s tariffs. The Trump administration also announced it may petition the U.S. Supreme Court as early as Friday to urgently suspend the ruling.
US-China Trade Talks Stall, Tensions Escalate
U.S.-China trade negotiations are currently “a bit stalled” and may need direct talks between the two nations’ leaders to move forward, Treasury Secretary Scott Bessent said in an interview with Fox News. Meanwhile, the U.S. is planning to revoke Chinese student visas and impose new restrictions on exports of chip design software and jet engine parts to China.
Trump, Ishiba Discuss Tariffs Over Call
Japanese Prime Minister Shigeru Ishiba and U.S. President Donald Trump held a 25-minute phone conversation to discuss tariff issues, during which both leaders deepened their mutual understanding on trade matters.
Trade War Costs Soar, Corporate Impact Grows
President Donald Trump’s trade war has cost companies over $34 billion in lost sales and increased expenses, according to a Reuters analysis of corporate filings. The toll is expected to grow as tariff uncertainty continues to disrupt decision-making at some of the world’s largest corporations.
Trump Meets Powell, Rate Cuts in Focus
Trump told Fed Chair Jerome Powell that not cutting interest rates is a mistake, according to the White House. The Federal Reserve, however, stated that Powell emphasized monetary policy will depend on economic data. This marked their first in-person meeting since 2019, according to Powell’s official calendar.
Israel Agrees to Ceasefire, Hamas Reviewing Terms
Israel has accepted a U.S.-brokered ceasefire proposal for Gaza, the White House announced Thursday. Meanwhile, Hamas confirmed it is reviewing the plan, though the group noted that the proposal does not fully align with its demands.
Truce Details: Hostages and Temporary Peace
Israel has agreed to a new ceasefire proposal from U.S. envoy Steve Witkoff, an Israeli official told CNN. The plan includes the release of 10 living and 18 deceased hostages, along with a 60-day truce. However, it excludes any agreement to begin talks on a permanent end to the war—Hamas’s key demand.
StoneX View: Gold Holding, But Highs Are In
Stone X says the short-term outlook remains unchanged: gold is still consolidating. “We expect prices to remain supported while the markets contend with continued uncertainty, but we continue to believe that the high is in. The gold:silver ratio, still just over 100, should start to decline as and when the economic clouds start to clear, but this may not be much before year-end.”
Gold Reserves Surge with Price and INR Drop
The value of gold assets (including gold deposits) held by the Banking Department rose by 57.12%, from ₹2,74,714.27 crore on March 31, 2024, to ₹4,31,624.80 crore on March 31, 2025. This increase is attributed to the addition of 54.13 metric tonnes of gold, higher gold prices, and INR depreciation against the USD.
Gold Opens Lower, Recovers on Trump Tariff Appeal
Gold prices were sharply down after a U.S. Federal court blocked Trump’s tariff plan, but prices recovered from their lows after the U.S. President announced an appeal against the court ruling. The dollar index also plunged, and U.S. jobless claims increased more than expected, supporting precious metal prices.
Economic Data Supports Gold, Eyes on Core PCE
The U.S. jobless claims increased last week to 2,40,000 against expectations of 2,29,000. Preliminary GDP data is also showing contraction in the economic growth and is supporting precious metal prices. Today, investors should watch the Core PCE Price Data scheduled for the evening.
Manoj Kumar Jain Gold & Silver Forecast
“We expect gold and silver prices to remain volatile in today’s session amid volatility in the dollar index, geo-political tensions and ahead of the key U.S. economic data,” said Manoj Kumar Jain. “Gold prices could hold its support level of $3,250 per troy ounce and silver prices could also hold $32.80 per troy ounce levels on a weekly closing basis.”
Gold and Silver Technical Levels
Gold has support at $3,320–3,294 and resistance at $3,368–3,388 per troy ounce. Silver has support at $33.20–32.88 and resistance at $33.70–34.00. On MCX, gold support is at ₹95,000–94,600 with resistance at ₹95,800–96,160. Silver is supported at ₹97,100–96,600 and faces resistance at ₹98,300–99,100.
Manoj Kumar Jain Currency Update
“As per the daily technical chart, a pair is having support at 85.3500–85.0800 while resistance is placed at 85.8800–86.1000. A pair is trading above its support level of 85.4700 and expected to trade in the range of 85.0800–86.1000 in today’s session,” said Jain.
Kedia Commodity Gold & Silver View
Gold has immediate support at ₹94,685, with further downside testing possible at ₹93,975. Resistance is seen at ₹95,920, and could test ₹96,445 if momentum holds. Silver has support at ₹97,290, with potential downside to ₹96,760. Resistance is placed at ₹98,400 and could rise to ₹98,980 on a breakout.
Currency Watch – Kedia Commodity
Currency Update as on Friday, 30 May 2025:
- USDINR trading range: 85.41–85.87
- EURINR trading range: 96.21–97.19
- GBPINR trading range: 114.70–115.86
- JPYINR trading range: 59.05–59.95
Today’s Data and Expectation
Nirmal Bang Gold and Silver Prediction
SMC Global Gold and Silver Prices Update
Geojit Group Gold and Silver Price View
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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.
