Gold price views: Gold Futures on the Multi Commodity Exchange (MCX) by India more than refueled £2,800 or more than 2 percent on Friday 4 April, after China announced his 34 percent retarent rate against the United States.
Gold Futures for the June 2025 contract concluded to £88.130 After Friday’s commodity market session, where the precious yellow metal was subject to heavy profit booking in the midst of the escalating global trade war.
After the extra rate announcement of China, Gold 2.17 percent £88,099 per 10 grams on Friday at 7:34 pm (Ist), compared to £90,057 on the previous raw material market nearby.
Global Spot Gold -prices were also subject to 2.4 percent losing to $ 3,041.11 per ounce on Friday when investors sold the precious yellow metal in the middle of a stock market crash.
According to the Commodity Market experts, the gold prices will probably be further witness to the pressure, because geopolitical tensions remain relatively modest. It is expected that this relaxation of global uncertainty will reduce the demand for Safe-Havenactiva such as gold.
Gold prices under profit booking?
Jateen Trivedi, VP Research of Commodity and Currency at LKP Securities, emphasized that the gold prices were subject to profit booking after the extra China rate announcements on Friday, because the markets have been positioning themselves before the current trade war in recent months.
“Golden prices witnessed profit bookings after the official announcement of tariff prices. The relocation is because the markets had already priced in the impact of mutual trade rates in recent months, making it a natural result,” said TriveDi.
“With the tariff premium now mainly discounted, the further pressure can arise as geopolitical tensions remain relatively modest, especially from Russia-Ukraine and the Middle East. This relaxation of the global uncertainty could lead to a mitigation of the demand for safe haven,” he said.
“On a technical level, Comex Gold Price stands for a strong resistance with the $ 3,120 to $ 3,130 zone, while immediate support is around $ 3,050 to $ 3,055. A break below can speed up the sales pressure in the short term,” said the commodities expert.
Domestic gold prices to fall?
Sugandha Sachdeva, the founder of SS Wealthstreet, stated that the rally in gold prices is currently confronted with global headwind because of the constant trade war between the United States and other countries, including China.
“The recent meeting of Gold has encountered a headwind, with sales pressure that arises despite the constant disturbances of the global trading. The decision of President Trump to exclude gold and silver from rates has reduced the fears on the supply side that have been reflected in rising ComeX-Portex-Voorden in rising Comex inventories in recent months. Sachdeva.
“At the same time, the demand for the retail trade is softened after a considerable price rally of 19% in the previous quarter. £88,800 per 10 g mark in the domestic markets suggests a potential withdrawal, with domestic prices that may fall to £87,000 crucial support initially or even even £84,000 per kg mark in the coming days, “the expert in the raw materials expects.
“A wider sale of the market has led to some investors reducing their exposure to the Golden. In addition, a strong American non-farming report for March has tempered expectations for the interest rate cuts of the federal reserve this year. The concern that rising tariff-controlled inflation can further discourage the FED,” said it. “Said.”
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