loader image
Connect with us

International News

Gold price faces more than 2.5% losses intraday after US-China tariffs reduction

Published

on

1,616 views

The recent agreement between the United States and China to significantly reduce tariffs has had profound implications for global financial markets, particularly for the price of gold. In a surprise move, both nations announced temporary reductions in tariff rates for a 90-day period.

As a result of this announcement, gold prices plummeted over 3% at the opening of the European trading session, falling to approximately $3,231 per ounce. This decline is part of a broader downward trend, with gold having lost more than 8% from its record high of $3,500, reached on April 21. The abrupt reallocation of capital into riskier assets has effectively brought an end to the gold rally that had characterized much of April and early May. Safe-haven exodus leads Gold to break vital supports before technically ending the rally. 

Amid this market euphoria, U.S. Treasury Secretary Scott Bessent emphasized that neither country desires a long-term decoupling. He further expressed interest in China opening its markets more broadly to U.S. goods, even suggesting the possibility of a formal purchasing agreement. These comments underscore a renewed spirit of cooperation between the two economic superpowers, contributing further to the risk-on sentiment prevailing in markets.

From a technical standpoint, gold is facing significant pressure. Analysts suggest that the current drop could be just the beginning of a more extended decline, with the potential for prices to fall below $3,200. If the support level around $3,245 is breached, a further descent toward $3,167 is anticipated—effectively erasing most of the gains from April and May. Conversely, for gold to re-establish upward momentum, it would need to overcome a series of resistance levels: first reclaiming $3,284, then $3,315 (the daily pivot), followed by $3,356 (R1 resistance), and finally $3,388 (R2 resistance), before any retest of the all-time high becomes feasible.

Continue Reading
Advertisement
Click to comment
Subscribe
Notify of
guest
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

International News

Gold continues upward march;Bank of America forecasts  $5,000/oz for 2026

Published

on

1,977 views

Gold prices in India saw a modest rise on Wednesday today Oct 15, mirroring an uptick in international markets as renewed US-China trade tensions and expectations of further US interest rate cuts bolstered demand for safe-haven assets.24k gold traded at Rs.1,28,360/10gm after gaining ₹10 in early trade, while silver prices increased by Rs.100 to Rs.1,89,100 per kilogram.

Gold prices surged to a record high of $4,179.48 per ounce on October 14, 2025.  Investors flocked to safe-haven metals amid trade tensions and Fed rate-cut expectations. U.S. December gold futures jumped 57% year-to-date.  Bank of America raised its 2026 gold forecast to $5,000 per ounce, warning of possible near-term corrections.

Gold prices soared to an unprecedented $4,179.48 per ounce on October 14, 2025, marking a historic milestone for the yellow metal. The rally comes as investors worldwide seek safety in hard assets amid a turbulent global economic backdrop marked by escalating trade tensions, slowing growth, and expectations of further interest rate cuts by the U.S. Federal Reserve.

The sharp surge in bullion prices has been driven by a combination of macroeconomic uncertainty and aggressive monetary easing. As inflation pressures remain sticky and central banks pivot toward dovish policies, gold has reasserted its role as a hedge against both currency debasement and market volatility.

In futures trading, U.S. December gold contracts have skyrocketed nearly 57% so far this year, underscoring the strength of investor demand across both institutional and retail segments. Analysts note that central bank buying—particularly from emerging markets—has added further momentum to the rally, with several countries diversifying reserves away from the U.S. dollar.

Reflecting this bullish sentiment, Bank of America has raised its 2026 gold price forecast to $5,000 per ounce, citing continued monetary easing, geopolitical instability, and robust central bank accumulation. However, the bank also cautioned that short-term corrections are likely, given the rapid pace of the recent run-up and potential bouts of profit-taking.

Overall, gold’s meteoric rise underscores a broader shift toward safe-haven assets, as investors navigate a world increasingly defined by economic fragmentation, shifting interest rate cycles, and persistent geopolitical risks.

Continue Reading

Trending

JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

We would like to hear from you...

GET WHATSAPP NEWS ALERTS

0
Would love your thoughts, please comment.x
()
x