US China Trade Deal: Gold prices dropped sharply on Monday, falling 2% and slipping below the $3,300 mark after news broke of a preliminary trade deal between the United States and China. The announcement, made by the White House late Sunday, followed two days of intensive negotiations in Geneva. While specifics of the deal remain under wraps, they are expected to be released in a press briefing scheduled for Monday evening IST.
The easing of tensions in the prolonged trade dispute appears to have reduced safe-haven demand for gold. The Trump administration characterized the talks as a step forward.
Secretary of the Treasury Scott Bessent said, “I’m happy to report that we made substantial progress between the United States and China in the very important trade talks. First, I want to thank our Swiss host. The Swiss government has been very kind in providing us this wonderful venue, and I think that led to a great deal of productivity we’ve seen. We will be giving details tomorrow, but I can tell you that the talks were productive. We had the vice premier, two vice ministers, who were integrally involved, Ambassador Jamieson, and myself. And I spoke to President Trump, as did Ambassador Jamieson, last night, and he is fully informed of what is going on.”
Trump to Visit Middle East for Key Strategic Talks
Meanwhile, U.S. President Donald Trump is scheduled to visit the Persian Gulf region starting May 13, with official stops in Saudi Arabia, Qatar, and the United Arab Emirates. The high-level agenda is expected to include ceasefire efforts in Gaza, trade and energy negotiations, and potential deals involving advanced semiconductor exports and nuclear cooperation.Regional leaders, especially in the UAE and Saudi Arabia, are reportedly focused on gaining access to restricted U.S. semiconductor technologies.
Gold & Silver Outlook
Market analysts expect precious metals to remain volatile this week due to fluctuations in the U.S. dollar and ongoing geopolitical developments.
Manoj Kumar Jain, Prithvi Finmart, said:
“We expect gold and silver prices to remain volatile this week amid volatility in the dollar index and geo-political tensions; gold prices could hold its support level of $3,180 per troy ounce and silver prices could also hold $31.40 per troy ounce levels. Gold has support at $3,310–3,280, while resistance lies at $3,374–3,400 per troy ounce and silver has support at $32.55–32.20, with resistance at $33.30–33.66 per troy ounce in today’s session. At MCX, gold has support at ₹96,100–95,550 and resistance at ₹97,000–97,450, while silver has support at ₹96,000–95,350 and resistance at ₹97,400–98,200.”
Kedia Commodity added that immediate support for silver is seen at ₹96,075, followed by ₹95,415, while resistance is at ₹97,220, with a potential test of ₹97,705 if bullish sentiment continues.
Gold Price Today
99.50~97400
23 KT~95000
22 KT~91000
20 KT~83000
18 KT~74900
14 KT~59700
9999 SILVER:~98900
Big Events of Week
Monday, May 12, 2025
07:55 PM – US – Fed Kugler Speech
11:30 PM – US – Monthly Budget Statement (April)
Tuesday, May 13, 2025
06:00 PM – US – Core Inflation Rate MoM (April)
06:00 PM – US – Inflation Rate MoM (April)
Wednesday, May 14, 2025
02:45 PM – US – Fed Waller Speech
06:40 PM – US – Fed Jefferson Speech
Thursday, May 15, 2025
02:30 PM – Eurozone – GDP Growth Rate QoQ 2nd Estimate (Q1)
06:00 PM – US – Retail Sales MoM (April)
06:00 PM – US – Core PPI MoM (April)
06:00 PM – US – Initial Jobless Claims (Weekly)
06:10 PM – US – Fed Chair Powell Speech
06:45 PM – US – Industrial Production MoM (April)
Friday, May 16, 2025
05:20 AM – Japan – GDP Growth Rate QoQ Preliminary (Q1)
07:30 PM – US – Michigan Consumer Sentiment Preliminary (May)
Other Major Events This Week
China–US Trade Talks
President Trump’s Visit to the Middle East
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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.
