comex group – Gold Price Today

China Mulls Halting 125% Tariff on Select American Goods, Comex Gold Slide below $3,350

Nisha V — Fri, 25 Apr 2025 04:04:10 +0000

Comex Gold prices opened positively today, but slide below $3,350 mark in the spot market. Silver, meanwhile, remained flat. But as soon as the news came China considering to reduce the tariff gold prices slide. According to Bloomberg, Beijing is weighing a temporary halt to its 125% surcharge on certain U.S. imports, as the escalating tit-for-tat tariffs have begun to strain key sectors. Officials are reportedly considering lifting the extra duties on medical equipment and industrial chemicals such as ethane, sources familiar with the deliberations told the news service.

U.S. President Donald Trump pushed back against Beijing’s denial of trade negotiations, telling reporters, “They had a meeting this morning … It doesn’t matter who ‘they’ is. We may reveal it later, but they had meetings this morning, and we’ve been meeting with China.” This follows China’s call to abolish “unilateral” tariff measures for resolving trade issues.

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Market watchers are also eyeing rising India–Pakistan tensions, adding another layer of uncertainty for investors.

In Europe, Russia launched its largest missile-and-drone barrage on Kyiv this year, killing at least 12 people. President Trump issued a rare public rebuke to Vladimir Putin: “Vladimir, STOP!” The U.S. is demanding that Russia recognize Ukraine’s right to develop its own army and defense industry as part of any peace agreement.

Separately, six Reuters sources report that the U.S. is poised to offer Saudi Arabia an arms package worth over $100 billion during President Trump’s May visit to the kingdom.

Futures Settlements & Volatility

On Thursday:

Gold June futures settled at $3,348.60 per troy ounce, up 1.66%.
Silver May futures closed at $33.503 per troy ounce, down 0.13%.

In India:

Gold June (MCX) rose 1.26% to ₹95,912 per 10 g.
Silver May (MCX) fell 0.29% to ₹97,511 per kg.

After Wednesday’s sharp sell-off, gold staged a strong pullback, once again breaching $3,300 as investors bought dips following a surprise rise in U.S. jobless claims (222,000 vs. 215,000 previously) and signs that China may soon roll out fresh economic stimulus. Existing home sales also surprised to the downside, dropping to 4.02 million units from 4.27 million, underpinning safe-haven demand for gold. A rebound in the dollar index and hopes for resuming U.S.–China tariff talks could, however, cap further gains.

Technical Outlook

Manoj Kumar Jain, Director at Prithvi Finmart, remains cautious:

“We expect gold and silver prices to remain volatile in today’s session amid volatility in the dollar index and the US-China trade war; gold prices could hold its support level of $3,200 and silver prices could also hold $29.88 per troy ounce levels. Gold has support at $3,310–3,284, while resistance lies at $3,374–3,400 per troy ounce, and silver has support at $33.20–32.84, with resistance at $33.88–34.40 per troy ounce.”

On India’s MCX:

“Gold is having support at ₹95,250–94,400 and resistance at ₹96,600–97,280, while silver has support at ₹96,850–96,200 and resistance at ₹98,200–99,100. Booking profits on long gold positions is advisable, but silver can be bought around ₹97,000 with a stop-loss at ₹96,400 for a target of ₹98,200.”

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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.

Gold Price Today: Uncertainty Rises on Trump’s Flip-Flops; Comex Gold Gains $70

Nisha V — Thu, 24 Apr 2025 02:18:31 +0000

Gold Price Today News @goldpricetodaynews: Gold prices rebounded sharply on Thursday morning, recovering from their steep fall the previous night. On Comex, gold futures surged over $70 and were trading near $3,371 per troy ounce. Spot gold also rose by $65, crossing the $3,350 mark as investors responded to renewed signals from the White House suggesting a softer stance on trade and monetary policy.

The key driver behind the bounce was increasing uncertainty in the market stemming from U.S. President Donald Trump’s changing tone on several major policy fronts, particularly the trade war with China and his approach to Federal Reserve leadership.

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U.S. Treasury Secretary Scott Bessent told investors that the current tariff levels between the U.S. and China are unsustainable. The U.S. currently has 145% tariffs on Chinese products, while China has imposed 125% tariffs on American goods. Bessent made it clear that neither country could continue under these conditions.

“Neither side believes that these are sustainable levels. As I said yesterday, this is the equivalent of an embargo and a break between the two countries in trade does not suit anyone’s interest,” Bessent told reporters.

While Bessent indicated that the U.S. is willing to explore significant tariff cuts—possibly as low as 50% according to Wall Street Journal reports—he also stressed that the Trump administration would not act unilaterally. Sources suggest the White House is open to a substantial cut in tariffs on Chinese auto parts ahead of a May 3 deadline, though no final decision has been made.

U.S. President Donald Trump on Wednesday expressed optimism about resolving the trade dispute with China, saying a “fair deal” could be on the horizon. However, his administration has so far provided little clarity on how and when it might ease the steep tariffs currently burdening both economies.

Trump told reporters his country would have a “fair deal with China,” adding that “everything’s active” when asked if Washington was in talks with Beijing.

As for the possibility of lowering tariffs, the President said that would depend on China’s approach: “depends on them,” Trump noted, while stressing his good relationship with Chinese President Xi Jinping. “I get along very well” with Xi, he said, and expressed hope that both sides can eventually reach an agreement.

In the Oval Office, when asked about reducing tariffs on autos, President Trump suggested the opposite. However, he continued to maintain a more measured tone on broader trade issues, stating:

“We’re going to be very nice, and they’re going to be very nice, and we’ll see what happens,” Trump said.

Meanwhile, geopolitical tensions also played into gold’s volatility. President Trump and Ukrainian President Volodymyr Zelenskiy had another public disagreement over the ongoing Ukraine conflict, particularly regarding Crimea. Vice President JD Vance added pressure, urging both Russia and Ukraine to agree to a U.S.-backed peace proposal or risk American withdrawal from the negotiation process.

On Wednesday, gold and silver futures ended mixed globally. Gold June contracts settled at $3,294.10 per troy ounce, down 3.66%, while silver May contracts rose 1.95% to $33.547. In India, gold futures settled at ₹94,722 per 10 grams (down 2.69%), and silver at ₹97,799 per kg (up 2.00%).

The sharp fall in gold was largely due to easing risk sentiment following Trump’s assurance that Federal Reserve Chair Jerome Powell would not be removed. The dollar index rebounded, and equity markets strengthened, triggering profit-taking in gold. However, silver showed resilience supported by stronger-than-expected U.S. housing and manufacturing data.

Manoj Kumar Jain, Director at Prithvi Finmart, commented:

“We expect gold and silver prices to remain volatile this week amid fluctuations in the dollar index and U.S.-China trade tensions. Gold prices could hold support at $3,200, while silver may find support around $29.88 per ounce.”

Jain added that gold has near-term support at $3,264–3,220 and resistance at $3,330–3,374. For silver, support lies at $33.20–32.84 and resistance at $33.88–34.40. On MCX, gold may find support at ₹94,000–₹93,350 and face resistance at ₹95,400–₹96,100, while silver could test support at ₹96,950–₹96,200 and aim for resistance between ₹98,500–₹99,400.

He suggests a buy-on-dips strategy:

“Buy silver around ₹97,400 with a stop loss of ₹96,600 for a target of ₹99,000,” said Jain.

Despite recent volatility, the long-term fundamentals of gold remain intact, supported by global central bank buying and increasing ETF inflows.

Donald Trump to Announce Tariffs Tonight; Gold Prices Continue to Gain

Nisha V — Wed, 02 Apr 2025 05:06:06 +0000

U.S. President Donald Trump is set to announce reciprocal tariffs tonight at 1:30 AM IST. The global market is on edge as nations await details of the tariff structure. Reports suggest the tariffs could be implemented at two levels—10% and 20%—based on a country’s tariff and non-tariff barriers on U.S. goods, rather than being commodity-specific. The highest tariff bracket is expected to be 20%.

Trump’s administration is still finalizing the specifics of the plan ahead of a Rose Garden event scheduled to coincide with the U.S. market close around 1.30PM IST. The White House has yet to confirm a final structure, with proposals under consideration including a tiered tariff system with flat rates or a more customized reciprocal strategy.

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Market Reaction and Gold Price Movement

Gold prices surged to an all-time high of $3,177 per troy ounce, but profit booking at elevated levels led to a pullback. Silver also corrected due to weakness in industrial metals and disappointing U.S. JOLTS job openings and ISM manufacturing PMI data. Despite short-term fluctuations, the bullish outlook for gold remains intact amid global uncertainty. Higher U.S. tariffs could slow global economic growth, further driving demand for safe-haven assets like gold and silver.

Expert Analysis and Technical Levels

Manoj Kumar Jain, Director at Prithvi Finmart, expects gold and silver prices to remain volatile due to fluctuations in the dollar index and trade tariff concerns. He projects gold and silver to hold key support levels at $3,040 and $32.40 per troy ounce, respectively, on a weekly closing basis.

Gold Technical Levels:
- Support: $3,134–$3,115 per troy ounce
- Resistance: $3,177–$3,192 per troy ounce
Silver Technical Levels:
- Support: $34.00–$33.74 per troy ounce
- Resistance: $34.64–$35.00 per troy ounce

On the MCX, gold has support at ₹90,440–₹90,100 and resistance at ₹91,150–₹91,500. Silver has support at ₹98,800–₹98,150 and resistance at ₹100,300–₹101,200. Jain suggests buying silver around ₹99,200, with a stop loss of ₹98,650 for a target of ₹100,300.

Market Sentiment and Forecasts

Kedia Commodity Report indicates that the market is witnessing short covering, with open interest declining by 2.77% to 18,549 contracts. Gold has immediate support at ₹90,380, with further downside potential to ₹89,890. On the upside, resistance is at ₹91,380, with a breakout likely to push prices towards ₹91,890.

For silver, the market is under long liquidation, with open interest falling by 6.02% to 19,363 contracts. Support is at ₹98,685, with further downside risk to ₹97,910. Resistance is seen at ₹100,605, and a breakout above this level could push prices to ₹101,750.

SMC Global projects gold trading in the range of ₹90,500–₹91,000, while silver is expected to move within ₹99,000–₹100,500, maintaining a sideways to bullish bias.

Investor anxiety has driven gold prices higher, as traders brace for Trump’s tariff announcement, which could escalate global trade tensions. Market uncertainty is further fueled by Trump’s characterization of the tariff decision as “Liberation Day.”

IIDM Update: Key Resistance and Support Levels

Spot gold, after reaching an all-time high of $3,149 per ounce, settled lower at $3,114 per ounce due to profit booking. Key resistance is seen at $3,125, and a breakout above could push prices towards $3,135–$3,150. Crucial support is at $3,100, with a break below likely leading to a decline towards $3,085–$3,080.

Upcoming Major Events Impacting Markets

Wednesday, April 2, 2025

1:30 AM IST – U.S. Tariff Announcement
5:45 PM IST – U.S. ADP Employment Change (March)

Thursday, April 3, 2025

2:00 AM IST – U.S. Fed Kugler Speech
6:00 PM IST – U.S. Initial Jobless Claims (March 29)
7:30 PM IST – U.S. ISM Services PMI (March)

Friday, April 4, 2025

6:00 PM IST – U.S. Non-Farm Payrolls (March)
6:00 PM IST – U.S. Unemployment Rate (March)
8:55 PM IST – Fed Chair Powell Speech

Other Key Developments to Watch

Trump’s post-tariff statement
Geopolitical updates on Iran
Developments in the Russia-Ukraine conflict
As markets brace for the upcoming tariff announcement, traders and investors remain on high alert for potential policy shifts and their impact on global trade, commodities, and financial markets.

Gold Price: Trump Blames Ukraine for War, Signals New Trade Tariffs; Gold Surges on Safe-Haven Demand

Nisha V — Wed, 19 Feb 2025 02:25:31 +0000

Gold Price, Gold Price Today: Gold is advancing toward a new high, surpassing the $2,950 mark on Comex futures today. Silver also recorded gains, reflecting strong market momentum. Former U.S. President Donald Trump on Tuesday claimed Ukraine was responsible for Russia’s invasion, arguing that Kyiv could have reached a deal to prevent the conflict. Speaking at his Mar-a-Lago resort, Trump criticized Ukrainian President Volodymyr Zelenskyy, who voiced concerns over being excluded from U.S.-Russia talks in Saudi Arabia.

“You should have never started it,” Trump said, asserting that he has the power to end the war. “You could have made a deal.”

New Zealand Cuts Interest Rates Amid Economic Concerns
On Wednesday, New Zealand’s central bank slashed its benchmark interest rate by 50 basis points to 3.75%, marking its fourth consecutive cut. The move comes as easing inflation provides room for policymakers to stimulate a struggling economy.

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Trump Plans 25% Tariffs on Key Imports
Trump also announced plans to impose 25% tariffs on automobile, semiconductor, and pharmaceutical imports, with a formal decision expected by April 2. The proposed tariffs would expand his previous trade policies, which already include 25% duties on steel and aluminum, set to take effect in March.

“I probably will tell you that on April 2, but it’ll be in the neighborhood of 25%,” Trump stated when asked about auto tariffs.

Gold and Silver Surge Amid Trade War Fears

Gold and silver prices surged in international markets on Tuesday as investors sought safe-haven assets amid uncertainty over U.S. trade policies.

Gold (April futures): $2,949.00 per troy ounce (+1.30%)
Silver (March futures): $33.373 per troy ounce (+1.52%)
Domestic Market:
- Gold (April futures): ₹86,113 per 10 grams (+1.24%)
- Silver (March futures): ₹96,848 per kg (+1.33%)

Gold reached a historic high of $2,949 per troy ounce, driven by safe-haven demand and central bank purchases. However, ongoing Russia-Ukraine ceasefire discussions may cap further gains.

Technical Outlook & Market Forecast
Manoj Kumar Jain, Director at Prithvi Finmart, expects gold and silver prices to remain volatile due to fluctuations in the dollar index, trade tensions, and upcoming Federal Reserve policy announcements.

Gold Support: $2,922–$2,904 | Resistance: $2,970–$2,988
Silver Support: $33.00–$32.80 | Resistance: $33.60–$33.94
MCX Gold Support: ₹85,820–₹85,500 | Resistance: ₹86,400–₹86,800
MCX Silver Support: ₹96,100–₹95,500 | Resistance: ₹97,750–₹98,400

Jain suggests buying silver around ₹96,400 with a stop loss of ₹95,750 for a target of ₹98,000.

Gold’s Bull Run Unstoppable: Defies Inflation, Geopolitical Tensions & Fed Signals

Nisha V — Thu, 13 Feb 2025 06:58:45 +0000

Gold prices remained firm on Thursday, with Comex futures trading around $2,945 per troy ounce. The yellow metal is exhibiting strong bullish momentum, ignoring key economic data releases and global events. Despite a hotter-than-expected U.S. inflation report, Federal Reserve commentary on interest rates, ongoing Russia-Ukraine negotiations, and a strengthening dollar, gold continues to push higher, signaling strong investor demand.

Trump-Putin Talks & Trade War Developments
In a significant geopolitical move, U.S. President Donald Trump agreed to initiate negotiations with Russian President Vladimir Putin to seek an end to the Ukraine war. This marks a shift from Washington’s previous stance and has caught European allies off guard. Additionally, Trump is expected to announce new reciprocal tariffs before meeting Indian Prime Minister Narendra Modi, as part of his broader trade policy aimed at countering import duties on U.S. goods.

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Fed Rate Cut Expectations Pushed Further
Following the latest inflation report, the Federal Reserve is unlikely to cut interest rates before September, if at all in 2024. Fed Chair Jerome Powell emphasized that while inflation has come down significantly, the central bank is not ready to ease monetary policy just yet. The higher-than-expected U.S. Consumer Price Index (CPI) data, which saw core inflation rise by 0.4% in January versus expectations of 0.3%, strengthened the case for the Fed to remain cautious.

Gold & Silver Price Action and MCX Targets
On Wednesday, gold and silver settled on a mixed note in the international markets. Gold April futures closed at $2,928.70 per troy ounce, down 0.13%, while silver March futures rose 1.43% to $32.785 per troy ounce. The domestic market followed a similar trend, with gold April futures settling at ₹85,481 per 10 grams (-0.05%), and silver March futures closing at ₹95,502 per kg (+0.99%).

Manoj Kumar Jain, Director at Prithvi Finmart, stated that gold and silver are holding key support levels of $2,840 and $31.40 per troy ounce, respectively. He expects continued volatility this week due to fluctuations in the dollar index, U.S. Producer Price Index (PPI) data, and trade war concerns.
Gold MCX Support: ₹85,000 – ₹84,450
Gold MCX Resistance: ₹85,820 – ₹86,300
Silver MCX Support: ₹94,750 – ₹94,000
Silver MCX Resistance: ₹96,200 – ₹97,000

Key support for gold remains at $2,914-$2,896 per ounce, with resistance at $2,950-$2,970. Silver is expected to trade between $32.40-$32.16 (support) and $33.00-$33.30 (resistance).

Trading Strategy: Buy Silver on Dips
Jain suggests buying silver on dips around ₹94,800, with a stop loss at ₹94,100 and a target of ₹96,200. The metal’s bullish trajectory is supported by strong safe-haven demand amid economic and geopolitical uncertainty.

Outlook: Continued Volatility Ahead
Gold and silver are expected to remain volatile amid inflation concerns, Fed policy shifts, and ongoing geopolitical tensions. Traders should watch key support and resistance levels as the market reacts to fresh developments.

Big Events of The Week
Thursday, February 13, 2025
07:00 PM | US – PPI MoM (JAN)
07:00 PM | US – Core PPI MoM (JAN)
07:00 PM | US – Initial Jobless Claims (FEB/0)

Friday, February 14, 2025
03:30 PM | EA – GDP Growth Rate QoQ (2nd Estimate, Q4)
07:00 PM | US – Retail Sales MoM (JAN)
07:45 PM | US – Industrial Production MoM (JAN)

Gold Price: Fed Chair Powell Signals No Urgency for Rate Cuts; Now UBS Raised Gold Target

Nisha V — Wed, 12 Feb 2025 03:57:22 +0000

Comex Gold, MCX gold price, gold rate: Federal Reserve Chair Jerome Powell stated that the central bank does not “need to be in a hurry” to lower interest rates further, reinforcing a cautious stance on monetary policy.

Meanwhile, U.S. President Donald Trump’s proposed 25% tariffs on steel and aluminum imports would add to existing levies on Canadian goods, effectively raising the total tariff to 50%. Canada has not been officially informed of this cumulative impact, with the new tariffs set to take effect on March 12.

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US Inflation Data is due today at 7PM (India Time). Inflation likely remained persistent last month, reinforcing the Federal Reserve’s cautious stance on reducing borrowing costs, according to economists’ estimates. The core Consumer Price Index (CPI), which excludes food and energy, is expected to have risen 0.3% in January from the previous month, according to projections for the Bureau of Labor Statistics report due Wednesday. On an annual basis, core CPI is forecast to have increased 3.1%, based on the median estimate from a Bloomberg survey. The overall CPI is also expected to rise 0.3% month-over-month, driven by higher energy and food prices, with eggs being a notable contributor to the increase.

Global Reactions to U.S. Tariffs:
EU: Plans countermeasures and may reactivate 2018 tariffs.
Mexico: Does not anticipate retaliatory measures.
Canada: Vows to defend against tariffs, warning of negative trade impacts.
Japan: Requests exemption from U.S. steel and aluminum tariffs.

Gold Market Outlook and Recent Performance
UBS, in its latest report, highlighted gold’s resilience as a hedge against uncertainty. “Gold’s appeal as a store of value and hedge against uncertainty has again proven itself to many investors. We have raised our gold forecasts to USD 3,000/oz over the next 12 months, up from USD 2,850 previously,” the bank stated.

On Tuesday, gold and silver prices settled slightly weaker in the international markets.
Gold (April futures): $2,932.60 per troy ounce (-0.06%)
Silver (March futures): $32.322 per troy ounce (-0.52%)

In the domestic markets, a stronger rupee added pressure on prices.
Gold (April futures on MCX): ₹85,523 per 10 grams (-0.34%)
Silver (March futures on MCX): ₹94,568 per kilogram (-0.76%)

Gold prices experienced high volatility, briefly touching a record high of $2,968 per troy ounce in international markets and ₹86,000 in domestic markets before retreating. The pullback followed Powell’s remarks dismissing imminent rate cuts, emphasizing that inflation remains above the Fed’s 2.0% target.

Technical Outlook & Market Strategy
Gold and silver prices may remain volatile this week, influenced by fluctuations in the dollar index, U.S. inflation data, and Powell’s upcoming testimony. According to Manoj Kumar Jain, Prithvi Finmart
Comex Gold Key Levels:
Support: $2,840-$2,896 per troy ounce
Resistance: $2,950-$2,970 per troy ounce

Comex Silver Key Levels:
Support: $32.00-$31.66 per troy ounce
Resistance: $32.64-$33.00 per troy ounce

Manoj Jain On MCX:
Gold: Support at ₹85,100-₹84,660, resistance at ₹85,820-₹86,350
Silver: Support at ₹93,750-₹92,800, resistance at ₹95,200-₹96,000

Trading Strategy:
Jain recommend selling gold around ₹85,800, with a stop loss at ₹86,220, targeting ₹85,000.

Big Events Wednesday, February 12, 2025
02:00 AM | US – Fed Bowman Speech
07:00 PM | US – Core Inflation Rate MoM (JAN)
07:00 PM | US – Inflation Rate MoM (JAN)
08:30 PM | US – Fed Chair Powell Testimony

Thursday, February 13, 2025
07:00 PM | US – PPI MoM (JAN)
07:00 PM | US – Core PPI MoM (JAN)
07:00 PM | US – Initial Jobless Claims (FEB/0)

Friday, February 14, 2025
03:30 PM | EA – GDP Growth Rate QoQ (2nd Estimate, Q4)
07:00 PM | US – Retail Sales MoM (JAN)
07:45 PM | US – Industrial Production MoM (JAN)

Gold Surges Past Historic ₹84,000 Mark on MCX, Can Gold Prices Hit $2,900? Trump’s Policies Drive Market Volatility

Nisha V — Wed, 05 Feb 2025 03:41:08 +0000

Comex Gold Price, Silver Price, MCX gold: Gold prices are soaring amid escalating geopolitical tensions and policy uncertainties fueled by former U.S. President Donald Trump. On COMEX, gold futures are trading near $2,880 per ounce, with the $2,900 mark within reach. Silver is also gaining momentum, eyeing the $33 level. Gold prices on MCX crossed the historic ₹84,000 level today, rising by ₹300. In contrast, silver saw a slight decline, trading near ₹95,500 with a drop of ₹250.

Geopolitical Unrest Fuels Gold Rally
Trump’s recent proposals, including U.S. ownership of the Gaza Strip and a hardline stance on Iran, have reignited market volatility. Trump declared, “With me, it’s very simple: Iran cannot have a nuclear weapon,” intensifying concerns over Middle East stability.

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Meanwhile, Saudi Arabia reaffirmed it won’t establish ties with Israel without the creation of a Palestinian state, countering Trump’s claims. These developments are creating a ripple effect in global markets, driving safe-haven demand for gold and silver.

Macroeconomic Factors at Play
The Federal Reserve’s cautious approach adds another layer of uncertainty. Fed Vice Chair Philip Jefferson stated, “I do not think we need to be in a hurry to change our stance,” signaling a wait-and-see approach amid global instability.

On Tuesday, gold April futures settled at $2,875.80 per troy ounce, up 0.66%, while silver March futures closed at $33.022, gaining 1.53%. In domestic markets, gold futures ended at ₹83,797 per 10 grams (up 0.62%), and silver at ₹95,709 per kilogram (up 1.54%).

Impact of Trade Wars and Dollar Index Movements
Gold and silver prices extended gains amid trade uncertainties. The U.S. paused tariffs on Canada and Mexico for a month, causing the dollar index to plunge. However, tensions with China escalated as both nations imposed new tariffs, with China launching a probe against Google.

Disappointing U.S. economic data further supported precious metal prices. Analysts expect gold and silver to hold key support levels at $2,770 and $31.40 per ounce, respectively, on a weekly basis.

Expert Insights and Market Outlook
Manoj Kumar Jain, Director at Prithvi Finmart, anticipates continued volatility due to fluctuations in the dollar index, U.S. trade policies, and the upcoming Bank of England policy meeting.

According to Jain:
Gold Support: $2,854-$2,840 | Resistance: $2,888-$2,900 per ounce
Silver Support: $32.80-$32.55 | Resistance: $33.30-$33.50 per ounce

For MCX traders:
Gold Support: ₹83,440-₹83,100 | Resistance: ₹84,050-₹84,400
Silver Support: ₹95,000-₹94,400 | Resistance: ₹96,300-₹97,000

Jain recommends buying silver around ₹95,100 with a stop loss at ₹94,400, targeting ₹96,600.

With geopolitical tensions rising and economic policies shifting rapidly, gold and silver are poised for further gains. Investors are closely watching Trump’s next moves, U.S. trade developments, and central bank policies, all of which will shape the trajectory of precious metal markets in the coming weeks.

Big Events of The Week
Wednesday, February 5, 2025
US:
06:45 PM – ADP Employment Change (January)
07:00 PM – Exports (December)
07:00 PM – Imports (December)
08:30 PM – ISM Services PMI (January)

Thursday, February 6, 2025
US:
06:00 AM – Fed Governor Jefferson Speech
07:00 PM – Initial Jobless Claims (February)

UK
05:30 PM GB BoE Interest Rate Decision

Friday, February 7, 2025
US:
07:00 PM – Non-Farm Payrolls (January)
07:00 PM – Unemployment Rate (January)
08:30 PM – Michigan Consumer Sentiment (Preliminary

Comex Gold Hits All-Time High at $2,850 as Trump Reignites Tariff Fears

Nisha V — Fri, 31 Jan 2025 02:44:56 +0000

MCX Gold Price, Comex Gold Price, Silver Price: Gold prices soared to a record high of $2,850 per troy ounce on COMEX futures, while silver also gained momentum. In the domestic market, gold April futures settled at ₹82,044 per 10 grams on MCX in the night session. The renewed uncertainty following Trump’s tariff threats on Mexico, Canada, and China has fueled safe-haven demand for gold.

Trump Confirms Tariffs on Mexico, Canada & China

President Donald Trump reiterated his plan to impose 25% tariffs on imports from Canada and Mexico starting February 1, citing concerns over trade deficits and the fentanyl crisis. Speaking from the Oval Office, he emphasized that these tariffs were part of broader economic measures.

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Trump said ”With China, I’m also thinking about something because they’re sending fentanyl into our country, and because of that, they’re causing us hundreds of thousands of deaths. So China is going to end up paying a tariff also for that, and we’re in the process of doing that.”

Gold & Silver Surge on Weak U.S. Data and ECB Rate Cut

Precious metals surged on Thursday following disappointing U.S. economic data and an ECB rate cut.

U.S. Pending Home Sales fell by -5.0% in December, significantly missing expectations of a 4.0% increase.
U.S. Q4 GDP came in at 2.3%, lower than the expected 2.7% and the previous 3.1% reading.
ECB cut interest rates by 25 basis points, further boosting gold prices.

In response, gold prices hit record highs, while silver reached an 8-week high in international markets.

Market Performance on Thursday

International Market:

Gold (April futures): $2,845.20 per troy ounce 1.85%
Silver (March futures): $32.493 per troy ounce 3.50%

Domestic Market (MCX):

Gold (April futures): ₹82,044 per 10 grams 1.45%
Silver (March futures): ₹93,446 per kg 1.72%

MCX Technical Outlook

Manoj Kumar Jain, Director at Prithvi Finmart, expects continued volatility due to fluctuations in the dollar index and global financial markets ahead of the U.S. Core PCE Price Index data.

Key Levels:

Gold (International):
- Support: $2,828-$2,800
- Resistance: $2,862-$2,884
Silver (International):
- Support: $32.00-$31.70
- Resistance: $32.80-$33.20
Gold (MCX):
- Support: ₹81,660-₹81,325
- Resistance: ₹82,480-₹83,000
Silver (MCX):
- Support: ₹92,800-₹92,220
- Resistance: ₹94,200-₹95,000

Jain’s Trading Recommendation:
Buy Silver around ₹92,800 with a stop loss of ₹92,000 for a target of ₹94,400.

Key Events to Watch This Week
Friday, January 31, 2025
07:00 PM (US): Core PCE Price Index MoM (DEC),
07:00 PM (US):Personal Income MoM (DEC),
07:00 PM (US):Personal Spending MoM (DEC), ‘
07:00 PM (US): PCE Price Index MoM (DEC)

Saturday, February 1, 2025
US: Trump Tariff Orders
11 AM India: Budget Announcement
India: MCX Open for Gold, Silver Trading

With increasing global uncertainty, gold and silver remain key safe-haven assets, and volatility is expected to persist in the near term.

Is Gold Moving From London to New York, Gold Lease Rates in London Surged

Nisha V — Thu, 23 Jan 2025 04:26:58 +0000

Gold stocks in COMEX-approved warehouses have jumped by a third in the past six weeks. Gold lease rates in London have surged to 3.25% per annum, reflecting a significant tightening of short-term liquidity as physical gold moves to Comex-approved US warehouses ahead of President Trump’s proposed 10% trade tariffs on imports. According to Industry experts rising lease rates indicate tight supply and highlight strong hedging activity, further boosting demand and upward price momentum.

According to some news reports moving physical gold from London to New York before the new administration starts will reduce the available supply in London, leading to higher lease rates. At the same time, traders who have bet against gold prices in Comex futures may rush to close their positions to avoid delivering physical gold when their contracts expire. This could push futures prices even higher. Silver and platinum inventories in CME-approved warehouses saw a significant increase, while palladium stocks remained unchanged.

For Expert Views on Gold and Silver Prices Watch Our Youtube Channel- (12 Million Views)

Lease rates indicate the return that bullion holders in London’s vaults earn by lending their metal to other buyers for short periods. Typically, these returns hover near zero, but last week they have surged to record levels, with one-month lease rates exceeding 3.5% annually—the highest since at least 2002.

According to Bloomberg News agency Similar trends have been observed in the silver market, raising concerns among analysts and traders about a potential shortage of freely available metal to meet demand. Bullion-dealing banks such as JPMorgan and HSBC play a crucial role in maintaining price stability between London and New York. Along with high-frequency trading firms and hedge funds, they often engage in arbitrage—selling New York’s Comex futures and buying London metal when price gaps arise—to restore market balance.

U.S. President Donald Trump announced on Wednesday that he would impose additional tariffs on Russia if it fails to negotiate an end to its ongoing war in Ukraine. Trump also hinted that these tariffs could extend to “other participating countries.” In a post on Truth Social, he revised his earlier remarks made on Tuesday, in which he stated that sanctions against Russia were likely if President Vladimir Putin refused to engage in peace talks to resolve the nearly three-year conflict.

On Wednesday, gold and silver prices ended on a mixed note in the international markets. Gold February futures closed at $2,770.90 per troy ounce, marking a 0.42% increase, while silver March futures settled at $31.42 per troy ounce, reflecting a 0.24% decline. Domestic markets followed a similar trend, with gold February futures rising by 0.43% to settle at Rs79,564 per 10 grams, whereas silver March futures dropped by 0.16%, closing at Rs91,944 per kilogram.

Market Uncertainty and Global Reactions
Gold and silver experienced significant volatility amid growing concerns over U.S. President Donald Trump’s tariff plans. Investor sentiment was rattled as Trump reaffirmed his intent to impose a 10% tariff on Chinese imports starting February 1. Asian equity markets witnessed a downturn in response to the announcement, while U.K. and European markets reached record highs as they were excluded from the tariff list. Gold benefited from increased safe-haven demand, pushing prices closer to record highs, while silver faced resistance due to weakness in industrial metals.

Technical Analysis and Market Outlook
Gold and silver continue to hold key support levels of $2,634 and $29.50 per troy ounce, respectively, on a weekly closing basis in international markets. Manoj Kumar Jain, Director at Prithvi Finmart, anticipates further volatility this week, influenced by fluctuations in the dollar index, Trump’s tariff policies, and the upcoming Bank of Japan policy meetings. Keep eye on Unemployment data today at 7PM in US.

For today’s session, Jain forecasts gold support levels at $2,755-$2,744, with resistance at $2,784-$2,796 per troy ounce. Silver is expected to find support at $31.15-$30.88 and resistance at $31.66-$31.88 per troy ounce.

Domestic Market Strategy
Jain said on the Multi Commodity Exchange (MCX), gold is expected to find support at Rs79,300-Rs79,080 and resistance at Rs79,800-Rs80,000. Silver, on the other hand, has support at Rs91,220-Rs90,700 and resistance at Rs92,600-Rs93,300. Jain suggests buying gold on dips around Rs79,250 with a stop loss of Rs79,000, targeting Rs79,800.

As uncertainty persists in the global financial markets, investors are advised to stay vigilant and closely monitor key developments that could impact precious metal prices.

Kedia Commodity Gold and Silver Range
Gold trading range for the day is 79150-79840.
Silver trading range for the day is 90680-93180.

Big Events of The Week
Thursday, January 23, 2025
07:00 PM (United States): Initial Jobless Claims for the week ending January 18.

Friday, January 24, 2025
03:00 AM (United States): Fed Balance Sheet data (as of January 22).
08:15 PM (United States): S&P Global Composite PMI Flash (January).
08:30 PM (United States): Existing Home Sales (December).
08:30 PM (United States): Michigan Consumer Expectations Final (January).

Friday, January 24, 2025
05:00 AM (Japan): Inflation Rate (YoY for December).
08:30 AM (Japan): BoJ Interest Rate Decision and Quarterly Outlook Report.

Gold Prices Cross $2,700 Amid Focus on U.S. Inflation and China’s Key Meeting

Nisha V — Wed, 11 Dec 2024 03:40:59 +0000

Gold Price, Comex Gold Price, Comex Silver Price: Gold prices surged above $2,700, with Comex futures nearing $2,740, as market participants anticipate crucial economic developments. The release of U.S. inflation data and China’s annual Central Economic Work Conference are expected to guide market trends. Fed Watch Tool data indicates an 88% probability of a rate cut in the Federal Reserve’s December 18 meeting, adding momentum to the rally. The European Central Bank (ECB) meeting later this week is also in focus.

China’s Strategic Moves and Stimulus Plans
Chinese Vice Premier He Lifeng has recently engaged with U.S. finance executives, signaling efforts to bolster relationships amid trade tensions. Meanwhile, China’s key policy meeting, starting Wednesday, will outline economic policies and growth targets for 2024. The Chinese central bank’s resumption of gold purchases in November, after a six-month hiatus, and discussions of fresh economic stimulus have provided additional support to gold and silver prices.

Market Performance on Tuesday
In international markets, gold February futures settled at $2,718.40 per troy ounce (+1.21%), and silver March futures at $32.747 per troy ounce (+0.42%). Domestically, gold February futures closed at ₹78,338 per 10 grams (+1.10%), and silver March futures at ₹95,525 per kilogram (+0.34%). Gold hit a two-week high, and silver reached a one-month high, buoyed by safe-haven demand amid geopolitical tensions in Syria and South Korea.

Outlook and Key Levels
Manoj Kumar Jain, Director at Prithvi Finmart, predicts market volatility driven by geopolitical factors, dollar index movements, and U.S. inflation data.
Gold: Support at $2,700–$2,684 and resistance at $2,747–$2,762 per troy ounce.
Silver: Support at $32.40–$32.15 and resistance at $33.00–$33.30 per troy ounce.
MCX Gold: Support at ₹78,000–₹77,770; resistance at ₹78,700–₹79,000. Buy above ₹78,400 with a stop loss of ₹78,140, targeting ₹79,000.
MCX Silver: Support at ₹94,850–₹94,100; resistance at ₹96,200–₹96,850. Buy around ₹95,200 with a stop loss of ₹94,450, targeting ₹96,600.

IIDM Daily Update on Gold Prices
Key resistance is located at 2700 above which we can see an upside move towards 2720-2735. Crucial support is seen at 2680 below which a further dip towards 2665-2660 can be seen.

Kedia Commodity on Gold and Silver Price outlook today
MCX GOLD – 78338
Resistance: 78660-78985-79605
Support: 77715-77095-76770

MCX SILVER – 95525
Resistance: 96010-96490-97255
Support: 94765-94000-93520

Spot GOLD$ – 2696.06
Resistance: 2709.99-2724.38-2735.58
Support: 2669.61-2643.62-2632.42

Spot SILVER$ – 31.9
Resistance: 32.1-32.31-32.53
Support: 31.69-31.49-31.27

Key Events of the Week
Wednesday, December 11, 2024
United States
07:00 PM: Core Inflation Rate MoM (NOV)
07:00 PM: Core Inflation Rate YoY (NOV)
07:00 PM: Inflation Rate MoM (NOV)

China
Central Economic Work Conference

Thursday, December 12, 2024
United States
07:00 PM: PPI MoM (NOV)
07:00 PM: Core PPI MoM (NOV)
07:00 PM: Initial Jobless Claims (DEC/07)
Euro Area
06:45 PM: ECB Interest Rate Decision
07:15 PM: ECB Press Conference
08:15 PM: ECB Economic Projections
08:45 PM: Speech by ECB President Lagarde

Friday, December 13, 2024
United States
03:00 AM: Fed Balance Sheet
07:00 PM: Export Prices MoM (NOV)

Geopolitical Tensions
Russia-Ukraine Conflict
Syria Crisis
Israel-Hamas Conflict