The U.S. Federal Reserve left its benchmark interest rate unchanged at 4.25%–4.5% during its May policy meeting, signaling caution amid persistent inflation and slowing growth. The Federal Open Market Committee (FOMC) acknowledged rising threats on both ends of its dual mandate, stating: “The risks of higher unemployment and higher inflation have risen.”
Fed Chair Jerome Powell rejected the idea of early rate cuts, warning markets not to expect preemptive moves. “It’s not a situation where we can be preemptive, because we actually don’t know what the right responses to the data will be until we see more data,” Powell said.
Addressing political pressure, Powell dismissed any influence from President Donald Trump’s calls to lower interest rates. He emphasized the Fed’s independence and said it is in a “good position” to assess the economic impact of ongoing tariff uncertainties.
Gold Above $3,400; Silver Nears $33
Gold prices surged above $3,400 an ounce in early Thursday trade, while silver hovered around $33. Both metals were up 0.5% during the day, though prices slipped slightly overnight. Investors are closely watching upcoming U.S. policy signals and trade developments for further direction.
Trump to Unveil Major Trade Deal Today
President Donald Trump announced on Truth Social that a major trade agreement will be unveiled in the Oval Office today at 7:30 PM IST (1400 GMT). He said the announcement would feature “representatives of a big, and highly respected, country.”
Trump Rules Out Tariff Cuts on China
Despite speculation about a possible reset in U.S.-China trade relations, President Trump flatly rejected the idea of easing 145% tariffs on Chinese imports. Asked at the White House if he would consider lowering the duties to bring China back to the table, Trump replied with a decisive “no.”
Perdue Sworn In as Ambassador to China Ahead of Geneva Talks
Former Senator David Perdue was sworn in as U.S. Ambassador to China on Wednesday, just ahead of scheduled trade talks in Geneva between American and Chinese officials. From the White House, Trump remarked on the timing, saying: “What timing … what timing, only you could’ve picked this timing.”
Ukraine Eyes Euro as Global Trade Realigns
Ukraine is exploring a move away from the U.S. dollar and considering stronger alignment with the euro. Central Bank Governor Andriy Pyshnyi told Reuters that the shift reflects the country’s growing ties with Europe and the fragmentation of global trade.
Bank of America Sees $4,000 Gold by End-2025
Bank of America analysts, led by Michael Widmer, now see strong potential for gold to reach $4,000 per ounce in the second half of 2025—a major revision from their earlier $3,500 target for 2027, which gold surpassed within a month.
“For another push higher, investment in the yellow metal would need to increase, while jewellery demand would have to stabilise,” the analysts said. “To provide some context: investment would need to increase by 18% year-over-year for gold to hit $4,000/oz. That may sound like a lot, but purchases exceeded that tally in 2016 and 2020—twice in the past decade—highlighting that it’s possible.”
Kedia Commodity Gold Silver Outlook For Today
Technically, the gold market is under long liquidation as open interest fell slightly by 0.14% to 15,218. Immediate support is at 96,630, with further downside possible toward 96,175. Resistance is seen at 97,460, and a breakout above this could push prices to 97,835.
Silver Immediate support is at 95,225, with further downside potential toward 94,710, while resistance lies at 96,565, and a breakout above could see prices testing 97,390.
SMC Global Gold Silver Outlook For Today
Gold is likely to trade in a narrow range of ₹96,800–₹97,400, while silver may move between ₹95,500–₹96,700, with both metals
showing a sideways to bearish trend. Gold climbed above $3,390 per ounce on Thursday, recovering from the previous session’s decline
as renewed uncertainty over US-China trade talk’s boosted demand for safe-haven assets.
Big Events of the Week
Monday, May 5, 2025
07:15 PM (US) – S&P Global Services PMI Final (April)
07:30 PM (US) – ISM Services PMI (April)
Tuesday, May 6, 2025
06:00 PM (US) – Balance of Trade (March)
06:00 PM (US) – Exports & Imports Data
Wednesday, May 7, 2025
11:30 PM (US) – Federal Reserve Interest Rate Decision
12:00 AM – Fed Press Conference
Thursday, May 8, 2025
05:20 AM (Japan) – BoJ Monetary Policy Meeting Minutes
04:30 PM (UK) – Bank of England Interest Rate Decision
06:00 PM (US) – Initial Jobless Claims
06:00 PM (US) – Nonfarm Productivity QoQ Preliminary (Q1)
08:30 PM (US) – Consumer Inflation Expectations (April)
Friday, May 9, 2025
04:15 PM (US) – Speech: Fed Governor Barr
06:00 PM (US) – Speech: Fed Governor Kugler
07:30 PM (US) – Speech: Fed President Goolsbee
Saturday, May 10, 2025
07:00 AM (China) – Inflation Rate YoY (April)
Watch for Key Geopolitical Developments:
US-China Trade Talks
Russia-Ukraine
India-Pakistan Tensions
Statements from President Trump”
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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.
