Gold Price Today News: Gold and silver prices opened the week on a flat note, with gold continuing to trade above $3,350 per ounce and silver holding above $38. The market remains cautious as macroeconomic signals from major global economies, especially China, weigh on investor sentiment.
China Keeps Lending Rates Unchanged
China opted to maintain its key lending rates in July, reflecting caution amid weakening consumer confidence. The People’s Bank of China left both the one-year Loan Prime Rate (LPR), which influences household and corporate loans, and the five-year LPR, a benchmark for mortgages, unchanged.
The decision comes as China’s second-quarter GDP growth fell short of expectations, and June retail sales highlighted weak domestic demand. Analysts at Nomura suggested that the central bank may introduce additional stimulus measures in the second half of 2025 to support economic growth.
Ukraine Seeks Ceasefire Talks with Russia
In a significant geopolitical development, Ukrainian President Volodymyr Zelensky announced that his country has proposed a new round of ceasefire discussions with Russia. Zelensky, in his Saturday address, said that National Security and Defense Council Secretary Rustem Umerov had extended the proposal for talks to take place next week.
U.S. Reciprocal Tariffs to Take Effect from August 1
Commerce Secretary Howard Lutnick reaffirmed that reciprocal tariffs will come into effect on August 1. While negotiations with other countries can continue, Lutnick said smaller economies could face a baseline 10% tariff.
“The bigger economies will either open themselves up or they’ll pay a fair tariff to America,” Lutnick stated.
Rare Earth Magnet Exports from China to U.S. Surge
In a positive sign for the EV and renewable sectors, China’s exports of rare earth magnets to the U.S. rose sharply in June. This rebound is attributed to recent progress in trade talks between Washington and Beijing. Rare earth magnets are critical components in electric vehicles and wind turbines, making this export trend closely watched by industry stakeholders.
Japan’s Political Uncertainty Sparks Fiscal Speculation
Japan’s ruling coalition lost its upper house majority in recent elections, triggering concerns about political gridlock. Prime Minister Shigeru Ishiba pledged to stay on, citing the need to manage critical tariff negotiations with the U.S.
With no clear majority in either house, markets are bracing for delays in reforms and potential populist fiscal measures, though analysts believe such risks are already priced in.
Market Outlook: Precious Metals Remain Rangebound Amid Mixed Global Signals
Manoj Kumar Jain, Prithvi Finmart, commented:
“Gold and silver traded in a range last week and hold their support levels. The dollar index gained for a second straight week after better-than-expected U.S. data, limiting upside in precious metals. While upbeat economic data dims hopes for early Fed rate cuts, support persists due to tariff uncertainties and central bank buying.”
He added, “We expect gold and silver prices to remain volatile this week amid global financial market jitters and ahead of the ECB monetary policy meeting. Gold could hold support at $3,280 and silver at $36.40 per ounce on a weekly closing basis.”
Technical Levels:
- Gold (COMEX): Support at $3,340–$3,327, Resistance at $3,374–$3,389
- Silver (COMEX): Support at $38.10–$37.84, Resistance at $38.70–$39.10
- Gold (MCX): Support at ₹97,770–₹97,440, Resistance at ₹98,360–₹98,640
- Silver (MCX): Support at ₹1,12,200–₹1,11,400, Resistance at ₹1,13,650–₹1,14,500
Kedia Commodity provided additional short-term outlook:
“Gold key support is at ₹97,515; a break below could test ₹97,000. Resistance is seen at ₹98,350, and a move above could push it towards ₹98,670.”
“Silver support lies at ₹1,12,410 with resistance at ₹1,13,595. A breakout above this may lead prices to test ₹1,14,235.”
Big Events of the Week: July 21–25, 2025
United States
- Monday, July 21
- 07:30 PM – CB Leading Index (MoM) for June
- Tuesday, July 22
- 06:00 PM – Speech by Fed Chair Jerome Powell
- 10:30 PM – Remarks by Fed Governor Michelle Bowman
- Wednesday, July 23
- 07:30 PM – Existing Home Sales data for June
- Thursday, July 24
- 06:00 PM – Initial Jobless Claims (week ending July 19)
- 07:30 PM – New Home Sales figures for June
- Friday, July 25
- 06:00 PM – Durable Goods Orders (MoM) for June
Euro Area
- Tuesday, July 22
- 10:30 PM – ECB President Christine Lagarde to deliver a speech
- Thursday, July 24
- 05:45 PM – European Central Bank Interest Rate Decision
- 06:15 PM – ECB Press Conference
Japan
- Wednesday, July 23
- 07:00 AM – Bank of Japan Deputy Governor Uchida to speak
China
- Monday, July 21
- 06:45 AM – Loan Prime Rate (1-Year) announcement
- 06:45 AM – Loan Prime Rate (5-Year) for July
Other Major Developments to Watch
- U.S. President Donald Trump’s fresh statements on tariffs
- Ongoing developments in Israel, Syria, Hamas, and Gaza
- Rising tensions between Russia and Ukraine
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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.
