Gold Silver News: Silver’s recent rally to a 14-year high has sparked speculation that Russia’s central bank may be making significant, though unconfirmed, purchases. According to journalist Tim Treadgold in Forbes, silver is “moving out of a long shadow cast by gold,” with market watchers pointing to potential large-scale buying by Moscow.
While official confirmation is still pending, the momentum in silver began building after Russia disclosed in late September its intention to include silver in its State Reserve Fund for the first time. Since then, silver has consistently outperformed gold, reinforcing speculation that Russia may be stockpiling the metal amid growing geopolitical and economic uncertainties.
Japan’s Export Slump Raises Recession Fears
Japan’s exports fell for the second consecutive month in June, raising concerns of a looming recession. The latest data showed a year-on-year decline of 11.4% in shipments to the U.S., significantly worse than the 0.5% growth forecast by economists polled by Reuters.
Auto exports were hit particularly hard, plunging 26.7% in June after a 24.7% drop in May. The worsening export scenario, combined with a lack of progress in U.S.-Japan trade negotiations, is increasing pressure on Japan’s economy, Asia’s second largest.
Israel Strikes Damascus Amid Rising Tensions
Israel launched heavy airstrikes in Damascus, claiming the attacks were intended to protect the Druze minority in Syria. In response, Syrian President Bashar al-Assad declared his country “not afraid of war,” signaling heightened tensions in the region.
These developments come as Middle East volatility continues to fuel safe-haven demand in precious metals markets, particularly gold and silver.
More Trump Tariff Letters Coming: Rate Clarity Eyed
U.S. President Donald Trump stated he plans to send tariff proposal letters to more than 150 countries, outlining new rates of either 10% or 15%. “We haven’t decided yet,” Trump told Real America’s Voice, suggesting a softer tone for smaller nations.
Natixis Chief Economist Alicia Garcia Herrero said the added clarity on rates may be “viewed as a positive” by countries fearing steeper tariffs. However, the sheer breadth of the plan underscores the Trump administration’s aggressive trade posture.
Crypto Regulation Bills Advance After Late-Night Drama
A package of cryptocurrency regulation bills cleared a major legislative hurdle on Wednesday after a dramatic 10-hour delay caused by resistance from conservative House Republicans. The breakthrough came following a record-setting vote, providing a potential path forward for establishing clearer rules in the digital asset space.
Gold, Silver Volatile on Fed Rumors and Economic Data
Gold and silver prices experienced sharp swings during a volatile session, briefly spiking on rumors that President Trump might fire Federal Reserve Chair Jerome Powell. Gold surged nearly $50 per ounce before cooling off after Trump clarified that while he is unhappy with the Fed’s inaction on rate cuts, he has no immediate plans to remove Powell.
On the macro front, U.S. Producer Price Index (PPI) and core PPI data both declined in June, but the market reaction remained muted. The firm U.S. dollar continues to cap upside potential for both gold and silver.
Weekly Outlook: Key Support and Resistance Levels
Manoj Kumar Jain, Director, Prithvi Finmart, noted:
“Gold may find support at $3,280 and silver at $36.40 per troy ounce on a weekly closing basis. For today’s session, gold has support at $3,340–$3,327 and resistance at $3,374–$3,389, while silver sees support at $37.80–$37.40 and resistance at $38.40–$38.70.”
At MCX, gold has support at ₹97,440–₹97,100 and resistance at ₹98,080–₹98,400. Silver has support at ₹110,800–₹110,000 and resistance at ₹112,400–₹113,100.
Technical Outlook: Short Covering Drives Market Moves
Kedia Commodity reports that gold is witnessing short covering, with open interest down 0.9% to 10,624 and prices up ₹577. Immediate support is seen at ₹97,160, with further downside to ₹96,530 if breached. Resistance lies at ₹98,350, with potential to test ₹98,910.
Silver is also under short covering pressure, with open interest down 4.35% to 17,849 and prices rising ₹149. Support is at ₹1,10,855; a break below could lead to ₹1,10,080. Resistance is seen at ₹1,12,350, with upside potential toward ₹1,13,070.
Mixed Trend Ahead for Bullion: SMC Global
SMC Global analysts forecast a mixed trend for precious metals, with gold likely trading between ₹97,200–₹97,800 and silver between ₹110,800–₹112,200. Early Thursday trade saw gold dip due to a firmer dollar and eased concerns after President Trump said it’s “highly unlikely” he would dismiss Jerome Powell.
Despite Trump’s clarification, his continued criticism of the Fed and hints at possible leadership change are keeping market participants on edge.
Motilal Oswal Prediction Gold and Silver
Nirmal Bang Gold and Silver Outlook
Thursday, July 17, 2025
🇺🇸 United States
• 04:00 AM – Fed President John Williams speech
• 06:00 PM – Retail Sales MoM (June)
• 06:00 PM – Initial Jobless Claims (Weekly)
🇪🇺 Euro Area
• 02:30 PM – Final Inflation Rate MoM (June)
Friday, July 18, 2025
🇯🇵 Japan
• 05:00 AM – Inflation Rate YoY (June)
🇺🇸 United States
• 07:30 PM – University of Michigan Consumer Sentiment (Preliminary, July)
Sunday, July 20, 2025
🇨🇳 China
• 06:45 AM – Loan Prime Rate – 1 Year
• 06:45 AM – Loan Prime Rate – 5 Year
🌐 Other Key Developments to Watch
- 🇺🇸 Trump’s Statements on tariffs, foreign policy, and trade talks
- 🇷🇺🇺🇦 Russia–Ukraine war updates
- 🇮🇱🇵🇸 Israel–Gaza ceasefire developments
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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.
