International News
Gold prices surged to an all-time high breaching $3,300/oz
Gold prices surged to an all-time high on Wednesday, breaching $3,300 an ounce in international spot markets for the first time as escalating U.S.-China trade tensions sent investors fleeing to traditional safe havens.
The yellow metal climbed to $3,318 per ounce in overseas trading, extending its recent rally and drawing closer to the symbolic ₹1,00,000 per 10 grams mark for 24-karat gold in India. Domestically, prices mirrored the global trend: in Delhi, gold was quoted at ₹98,100 per 10 grams by evening, while June futures on the Multi Commodity Exchange (MCX) hit a record ₹95,435.
President Trump’s directive for a probe into critical minerals added to the market anxiety, reinforcing the rush toward safe haven assets.
The sharp price escalation, however, has chilled consumer demand in India—the world’s second-largest gold market—prompting local jewelers to sell at a discount to imported prices. Gold is currently trading at a 1–2% discount to its landing cost in Indian markets.
Meanwhile, silver has trailed the gold rally. International spot prices for the white metal hovered around $32.80 per ounce Wednesday, crossing ₹1,00,000 per kilogram in Delhi, but still lagging behind gold in terms of momentum.
For now, analysts expect gold’s bullish run to persist, fueled by geopolitical uncertainty, inflation concerns, and growing investor caution.
International News
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Gold Continues Its Upside Momentum With Next Target Resistance At $4,800–4,850 (~ Rs. 1,55,000)
Safe-Haven Dynamics – Gold and Silver have resumed their upward trend, supported by optimism around a potential US–Iran peace deal that is weakening the safe-haven appeal of the USD. Despite ongoing tensions in the Strait of Hormuz, investor sentiment leans toward diplomatic resolution. This has pushed Crude Oil prices lower, reducing inflationary pressure and lowering expectations of a more aggressive Fed stance.
Geopolitical Developments – Iran has accused the US of breaching the ceasefire through strikes near the Strait. The Trump administration is awaiting Tehran’s formal response to a proposal aimed at reopening Hormuz and resolving the roughly ten-week conflict. Reports suggest Iran will relay its position via Pakistan within two days.
Macro-economic Signals Markets are focused on today’s NFP print, forecast at 62K — a sharp pullback from March’s stronger-than-expected 178K. The Unemployment Rate is projected to hold at 4.3%, while Average Hourly Earnings growth is expected to tick up to 3.8% from 3.5%, keeping wage inflation in focus.
Technical Triggers
- Gold continues its upside momentum with next target resistance at $4,800–4,850 (~Rs.1,55,000).
- Silver has met the $80 (~Rs. 2,60,000) and $82 (~Rs. 2,65,000) upside target. Prices are expected to consolidate here for a while before moving higher towards $85 (~Rs. 2,70,000)
Support and Resistance
| International Gold Support Level International Gold Resistance Level Domestic Gold Support Level Domestic Gold Resistance Level | : $4500/oz : $4850/oz : Rs. 148,000/10 gm : Rs. 155,000/10 gm |
| International Silver Support Level International Silver Resistance Level Domestic Silver Support Level Domestic Silver Resistance Level | : $73/oz : $85/oz : Rs. 240,000/kg : Rs. 270,000/kg |
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