Gold prices are expected to remain under pressure due to anticipated US interest rate hikes, with a negative near-term outlook. The precious metal has fallen for five consecutive weeks, hitting its lowest level since November below $3,980/oz.
Gold prices are holding strong, supported by central bank purchases and an interim US-Iran peace agreement that shifted focus from geopolitics to economics. Easing tensions reduced inflation fears and Fed tightening expectations, leading to lower Treasury yields and a softer dollar.
Gold and silver prices surged domestically following India's sharp increase in import duties to 15%. Analysts expect prices to align with international levels as the market absorbs the changes, with a constructive long-term outlook for gold and strong potential for silver.
Gold price prediction today: Both gold and silver prices are expected to continue seeing volatility in the near term, says Vedika Narvekar, Research Analyst - Commodities & Currencies, Anand Rathi Shares and Stock Brokers.
