gold price outlook: Gold (XAU/USD) remains at elevated levels as lower Treasury yields and the US Treasury’s larger debt buyback plan provide support. However, the Federal Reserve’s concerns about persistent inflation could limit further gains. Geopolitical tensions involving Iran and uncertainty around the Strait of Hormuz also remain in focus. The technical structure stays positive after gold turned higher from the lower wedge support. Markets will now focus on Fed policy signals and geopolitical developments for the next direction.
Indian Rupee Under Pressure as RBI Tightens Liquidity
BNY’s Geoff Yu notes that India’s bonds sold off after the Reserve Bank of India (RBI) unexpectedly advanced closure of its special Dollar deposit window to end-August. The change reduces anticipated Indian Rupee (INR) liquidity, lifts 5-year and 10-year yields, and may slow reserve accumulation and Rupee appreciation as authorities grow wary of future liabilities and forward-premium costs.
Silver Price Forecast: XAG/USD Eyes $66 as Dollar Weakens
Silver (XAG/USD) trades on a strong footing on Monday, reaching levels above $65.80 at the European session opening times, after bouncing from the $63.50 area on Friday. Precious metals are being boosted by US Dollar (USD) weakness, as recent US macroeconomic data has curbed hopes of Federal Reserve (Fed) interest rate hikes this year.
MCX Gold Forecast: Bullish Momentum, Targets & Key Levels
MCX Gold Forecast: MCX Gold is showing signs of renewed strength, with the short-term technical setup remaining positive. Even though expectations of US interest-rate cuts have weakened after recent economic data, gold is holding firmly and continues to attract buying interest.
MCX Silver Forecast: Buy Above ₹2,32,000 for ₹2,45,000 Target
MCX Silver has shown a strong recovery after taking support several times near ₹2,29,700. This support zone has attracted fresh buying interest and helped silver recover from lower levels.