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Gold price prediction: Gold is traditionally a safe haven investment and in times of global economic and political turmoil, focus on gold is but natural. Gold prices globally hit record highs recently but have since then corrected.What’s thegold rate outlook and what should you as an investor do? Maneesh Sharma, AVP – Commodities & Currencies, Anand Rathi Shares and Stock Brokers shares his views and recommendations:
Gold ended the last week in red witnessing back to back weekly losses for the first time this year as ease in trade tensions, a pullback in dollar from 3 year lows, and a liquidity drain from China’s market holiday weighed on bullion markets.
The April U.S. jobs report, released Friday, showed modest hiring gains but not enough weakness to validate immediate rate cuts leaving gold in uncertain territory heading into a critical week for Fed policy clarity.
The White House and Treasury signalled progress on bilateral trade agreements with key partners including India, Japan, and South Korea, while China paused tariffs on select U.S. imports. Although Beijing denied new talks were underway, the tone de-escalated, prompting investors to rotate out of safe haven assets.
At the same time, U.S. economic signals painted a mixed picture, GDP numbers were seen shrinking by 0.3% in Q1 due to soaring imports in the same quarter and core PCE was flat in March, while jobless claims rose to 241,000.
Gold Price Outlook for the current week
Market sentiment remains in favor of Gold despite US President Donald Trump having stated an intent to make a deal with China, as he continues to offer no specifics on the content or timing of renewed negotiations creating uncertainty. Also Beijing have confirmed US proposals to restart talks but have reiterated that certain conditions must be met before any dialogue can begin. This lingering uncertainty could continue to bolster safe haven flows in yellow metal at lower levels.
Attention for the week also remains on the Federal Reserve FOMC meeting with rate decisions due on midnight Wednesday as Fed is likely to hold rates steady, but Chair Powell’s press conference may carry the most impact for gold.
Political pressures have intensified, with President Trump and Treasury Secretary Bessent openly criticizing the Fed and urging pre-emptive cuts. However, with Friday’s jobs report showing no clear labor market deterioration, Fed Chair is expected to remain on a cautious tone potentially reinforcing higher-for-longer rate expectations unless inflation or employment data worsen.
Overall traders should expect volatility in prices around Wednesday’s FOMC announcement and Powell’s post-meeting remarks. Meanwhile, post Fed comments could also ignite profit booking moves towards the end of the week while broad trading range could remain around $ 3205 – 3390 per oz in Spot markets for the week.
Gold Buy/Sell Strategy for the Current Week
Buy MCX Gold June (CMP 94,500 / 10 gm) on dips in the range of 93,500 -93,000, with Stop Loss below 92,300, & target of Rs. 96,500 – 96,800 / 10 gm)
(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)
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