Gold Surges on US Bond Market Turmoil and Middle East Tensions
A sharp spike in US Treasury yields and rising geopolitical tensions in the Middle East have reignited safe-haven demand, pushing gold prices near $3,350 per ounce and silver close to $34. In India, MCX gold crossed the ₹96,000 mark while silver breached ₹99,000, reflecting global nervousness driven by economic uncertainty and conflict escalation.
WisdomTree Predicts Strong Upside for Gold by 2026
WisdomTree maintains a positive long-term view on gold. “This conservative view would take gold prices to $3,610/oz in Q1 2026.” The firm notes that even before recent tariff shocks, inflation was expected to remain above the Federal Reserve’s target. Reduced speculative positioning and limited dollar strength add to the bullish case for gold.
US Treasury Yields Breach Critical Levels, Stirring Market Volatility
The 30-year US Treasury yield jumped 12 basis points to 5.09% on Wednesday, the highest since October 2023, crossing the 5% threshold for the second time this week. The 10-year yield rose to 4.59% and the 2-year to 4.01%. Longer-dated yields hit 18-month highs after Moody’s downgraded US debt and amid fears that President Donald Trump’s proposed tax and spending plan—estimated to add $3.8 trillion to federal debt—could worsen the fiscal imbalance.
Global Markets React: Dollar Falls, Bitcoin Hits Record, Gold Gains
Market sentiment turned sour as concerns over unsustainable US debt spooked investors. The dollar index weakened, Asian equities slipped, and Bitcoin surged to a new all-time high. Gold gained on the back of increased safe-haven demand, with global investors closely watching the US Congress vote on the proposed tax bill this week.
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Japanese Bond Market Wobbles as Yen Carry Trade Unwinds
Japan’s 30-year bond yield spiked to 3.2% on Wednesday after the country’s worst bond auction in decades, signaling deeper global bond market stress. While Japanese yields remain below US Treasuries, the trend points to unraveling of the yen carry trade. Fawad Razaqzada, Market Analyst at City Index and FOREX.com, called the selloff a “seismic shift” in global markets. “With inflation finally biting and the Bank of Japan inching toward policy normalization, the once-lucrative yen carry trade may be collapsing again, much like it did last summer,” he noted. Gold rallied nearly $200 last year when the carry trade initially began to unwind.
Dimon Warns of Stagflation Risk for US Economy
JPMorgan Chase CEO Jamie Dimon expressed concerns about the US economic outlook. “I don’t agree that we’re in a sweet spot,” the chief executive officer said in a Bloomberg Television interview from the lender’s Global China Summit in Shanghai. Risks include huge deficits, inflationary factors, and geopolitical risk, he said, adding that the US Federal Reserve is doing the right thing to wait and see before they decide.
Bitcoin Climbs to New All-Time High
Bitcoin soared past its previous January peak on Wednesday, marking a new record high. The rally came as markets regained risk appetite following last month’s tariff-driven selloff, pushing alternative assets like cryptocurrencies and gold into the spotlight once again.
Outlook and Support Levels for Gold and Silver
Manoj Kumar Jain of Prithvi Finmart said, “The dollar index slipped below 100 marks once again and also supporting prices of gold and silver. Gold prices crossed $3,300 per troy ounce and silver prices also trading above $33 per troy ounce and could shows further strength.” He expects gold and silver to remain volatile due to fluctuations in the dollar index and geopolitical uncertainty in the Middle East. Gold has support at $3,284–3,260 and resistance at $3,334–3,358 per ounce. Silver has support at $33.30–33.00 and resistance at $34.00–34.40. On MCX, gold support lies at ₹95,100–94,650 with resistance at ₹96,000–96,650. Silver support is at ₹97,400–96,650 and resistance at ₹99,100–100,000.
INR Technical Outlook Against US Dollar
According to Jain, the USD/INR pair has support at 85.3900–85.1500 and resistance at 85.8500–86.1000. The pair is trading above its key support level of 85.3900 and is expected to move within a broader range of 84.8000–86.4500 for the rest of the week.
Kedia Commodity Sees Breakout Potential in Precious Metals
Kedia Commodity reports immediate support for gold at ₹95,185, with deeper levels at ₹94,765. Resistance is placed at ₹95,865, and a breakout could drive prices toward ₹96,125. For silver, support is at ₹97,435 and ₹96,630, while resistance is seen at ₹98,920 with a possible move toward ₹99,600 on a breakout.
Kedia Commodity Currency Outlook
USDINR trading range for the day is 85.45-85.79.
EURINR trading range for the day is 96.66-97.42.
GBPINR trading range for the day is 114.39-115.49.
JPYINR trading range for the day is 59.45-59.83.
Augmont Gold Silver Price Prediction
As gold has changed its momentum and moved higher above $3300 (~Rs 95500), the rally can continue towards $3380 (~Rs 97500), but prices are expected not to sustain beyond that. Silver prices are gaining momentum and close to their resistance level of $34(~Rs 99500). We couldsee a reversal if prices don’t sustain. If prices sustain above these levels, the next target would be $35(~Rs 102,000).
Nirmal Bang Prediction for Gold and Silver Prices
Motilal Oswal Group Gold, Silver Price Prediction
Geojit Group Gold, Silver Prices Outlook
Big Events of the Week (May 19–23, 2025)Monday, May 19
2:30 PM (EA) – Euro Area: Core Inflation Rate YoY Final (April)
7:30 PM (US) – President Trump’s call with President Putin
2:50 AM (US) – Fed Williams Speech
6:00 PM (US) – Fed Bostic Speech
6:15 PM (US) – Fed Jefferson and Williams Speeches
Tuesday, May 20
6:30 PM (US) – Fed Barkin Speech
6:30 PM (US) – Fed Bostic Speech
Wednesday, May 21
2:30 AM (US) – Fed Kugler Speech
11:30 AM (UK) – UK: Inflation Rate YoY (April)
9:30 PM (US) – Fed Barkin Speech
Thursday, May 22
6:00 PM (US) – Initial Jobless Claims (May week)
6:00 PM (US) – Continuing Jobless Claims (as of May 10)
7:15 PM (US) – S&P Global Services PMI Flash (May)
7:30 PM (US) – Existing Home Sales (April)
Friday, May 23
5:00 AM (JP) – Japan: Inflation Rate YoY (April)
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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.
