Comex Gold continued its remarkable surge, inching closer to the $3,400 mark on Comex, driven by growing uncertainty around former U.S. President Donald Trump and escalating trade tensions between the U.S. and China. Silver also displayed significant strength amid heightened global volatility.
Donald Trump has earned the nickname ‘the Gold Man’ as international gold prices have soared by more than $700 since his election in November. The rally continues strong, and investors who bought gold during Diwali are now sitting on significant gains. The bullish momentum shows no signs of easing.
If you’re a jewellery or diamond exporter, keep a close watch on U.S. Vice President JD Vance’s visit to India, as it signals potential progress on India-related tariff discussions that could impact the trade landscape.
easy for them. We must rebuild the Wealth of our Great Country, and create true RECIPROCITY. But for those who want the easiest path: Come to America, and build in America!”
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Trump Declares ‘Golden Rule’ in Trade Talks, Reasserts Tariff Pressure on Global Leaders
In a strong message posted on his Truth Social platform, U.S. President Donald Trump emphasized the power of economic leverage amid ongoing global trade tensions.
“THE GOLDEN RULE OF NEGOTIATING AND SUCCESS: HE WHO HAS THE GOLD MAKES THE RULES. THANK YOU!”
“Since our announcement of LIBERATION DAY, many World Leaders and Business Executives have come to me asking for relief from Tariffs. It’s good to see that the World knows we are serious, because WE ARE! They must right the wrongs of decades of abuse, but it won’t be easy for them. We must rebuild the Wealth of our Great Country, and create true RECIPROCITY. But for those who want the easiest path: Come to America, and build in America!”
Trump’s remarks highlight his continued focus on using tariffs as a tool to address long-standing trade imbalances. His message also signals a renewed push for domestic manufacturing and economic self-reliance, urging international firms to shift their operations to the U.S. as a way to avoid trade penalties.
Tensions intensified as a Boeing jet returned to the U.S. from China, symbolizing the impact of Trump-era tariffs. China’s Commerce Ministry responded strongly, stating:
“China respects all parties resolving economic and trade differences with the United States through consultation on an equal footing, but it will firmly oppose any party striking a deal at China’s expense.”
A ministry spokesperson further warned:
“China will take countermeasures in a resolute and reciprocal manner if any country sought such deals.”
In response to mounting tariff pressure, China held its key lending rates steady to stabilize the yuan.
Meanwhile, the U.S. imposed a sharp 245% hike in tariffs on Chinese imports, worsening market fears. As a result, the dollar index slipped to a two-year low, while gold and silver gained sharply. The ECB’s 25 basis point rate cut further boosted precious metal prices.
Market Outlook
Manoj Kumar Jain, Director at Prithvi Finmart, stated:
“We expect gold and silver prices to remain volatile this week amid volatility in the dollar index and the US-China trade war. Gold prices could hold support at $3,140, and silver at $29.88 per troy ounce.”
He noted technical levels for the day:
- Comex Gold: Support at $3,313–3,284, resistance at $3,364–3,388
- Comex Silver: Support at $32.15–31.74, resistance at $32.80–33.10
- MCX Gold: Support at ₹94,750–94,280, resistance at ₹95,550–96,000
- MCX Silver: Support at ₹94,400–93,650, resistance at ₹95,800–96,650
“We suggest staying away from taking fresh positions in gold and silver due to speculation about US-China trade deal negotiations,” Jain advised.
As long as the geopolitical uncertainty and tariff conflict persist, the precious metals market may continue to exhibit heightened volatility and upward bias.
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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.
