Digital Gold
The coming week may see heavy fluctuations in gold prices, as investors are eyeing the significant fee of July 9, policy signals of major central banks, including the US Federal Reserve and the major global large economic figures. Analysts have said this. Analysts said that these factors could affect the direction of gold prices in the near future.
He said that the traders are likely to be vigilant before any major policy indication or geopolitical developments. The 90-day suspension period on the duty imposed by US President Donald Trump on imports from several countries including India ends on 9 July, which has again increased the risk of imposing 26 percent of additional charges on Indian goods entering the US.
Pranav Mer, Vice President (EBG) of JM Financial Services Limited and Vice President (EBG), said, “The results of business negotiations between the US and its business partners, especially by the main central banks, will be monitored by the US and its business partners, and the upcoming global economic figures, which can affect gold prices in the near future.”
Investors will also closely monitor the meeting of US Fed’s FOMC (Federal Open Market Committee). Last week, the price of precious metal increased by Rs 1,563 or 1.61 percent for August delivery on the Multi Commodity Exchange (MCX).
Jens Desk chief NS Ramaswamy in Ventura said that the price of gold in the international market is currently $ 3,345 an ounce and the US may have a strong large economic figures due to a strong economic figures. These figures have affected the expectations of cutting interest rates in July by the Federal Reserve.
Despite some corrective boom, Ramaswamy stated that “short -term landscape is in favor of consolidation and corrective motion, after which the trend of widespread decline is likely to continue.”
However, Ramaswamy said that the fiscal deficit concern in the US and the imminent decision of Trump’s fees could create new instability and increase the demand for yellow metal. He said that in May, central banks added 20 tonnes of gold to the global gold reserves.
Prathamesh Mallya of Angel One said that weakened US dollars and current geopolitical concerns are supporting gold prices. Mallya said that the dollar weakness has been a major reason for the increase in gold prices in 2024 as well as 2025. This trend can also continue in the rest of the year. Language edited by: Sudhir Sharma
