Gold price prediction today: Where is gold rate headed in the near future what levels will it hit? Here’s the outlook – Times of India

Gold price prediction today: Gold prices are expected to continue being volatile amidst emerging global economic situations. Maneesh Sharma, AVP – Commodities & Currencies, Anand Rathi Shares and Stock Brokers shares his views and recommendations for gold investors:Gold witnessed volatile last week ending with corrective moves seen on easing geopolitical tensions & some trade policy progress. Economic data showed mixed trends with soft US indicators, sluggish from the euro area, while the UK, Japan and India improved. Global equities rose, with US benchmarks hitting new highs, while Treasury yields and the dollar fell, and oil prices declined. Gold was seen breaching key supports below $ 3330 in spot last week, indicating prices continuing to consolidate below all time highs hit in the last week of April.The de-escalation of the Israel–Iran conflict, the trade agreement with China, and ongoing negotiations between the United States (US) & its peers to reach commercial deals were welcomed by investors last week, who had previously sought refuge in Bullion’s safe-haven demand.US Job market numbers are key this week following a tandem decline in the US 2-year Treasury yield & dollar, as the Fed’s Bowman joined Waller in voicing support for a July cut. With President Trump also pressuring Powell to cut rates, the speech by Fed chair is also closely being scrutinized on timings of rate cut in coming months.Also with a jampacked shortened data week in the US, possibilities of market volatility also remains in the North American session on Tuesday & Thursday.The markets are currently pricing in a smaller chance that the next rate reduction by the Fed will come in July and see a roughly 75% probability of a rate cut as soon as September. This, along with concerns about the worsening US fiscal condition, dragged the US Dollar to its lowest level since February 2022 on Tuesday lending additional support to the yellow metal.

Weekly View (Gold): Volatile

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