Gold value outlook: Gold Futures on India’s Multi Commodity Alternate (MCX) closed flat after Friday, 4 July’s market session. The futures jumped after opening on Friday attributable to a weak US greenback because the US Home handed President Donald Trump’s tax reduce invoice.
The MCX gold futures for the August 2025 contract closed flat or ₹2 per 10 grams decrease at 96,988 factors on Friday, in comparison with 96,990 factors on the earlier commodity market shut. The valuable yellow metallic hit an intraday excessive of ₹97,131 per 10 grams through the intraday session.
On the worldwide gold entrance, the Comex gold was up 0.11% or by $3.60 per ounce to $3,346.50 per ounce as of the buying and selling session on 5 July 2025, in accordance with official knowledge. The commodity hit an intraday excessive of $3,355 per ounce on Friday.
All eyes are on US President Donald Trump’s 90-day tariff pause deadline on 9 July 2025 as traders await nations to complete the ultimate stretch of their commerce negotiations. Final week, Trump additionally informed reporters on board Air Drive One which he has signed letters to 12 nations outlining the assorted tariff ranges they’d face on items they export to the Western nation.
If India doesn’t negotiate a commerce take care of america, they may face a tariff price of 26% on high of the baseline 10% tariff charges on all imports to america.
Gold’s protected haven attraction in focus?
Protected-haven gold costs on the worldwide markets rose to close $3,340 per ounce on Friday, 4 July 2025, and ended the primary week of July with features attributable to issues concerning the US fiscal deficit and tariff uncertainty.
In conditions like these, market traders withdraw their cash from high-risk property like fairness and derivatives markets looking for safe-haven investments like authorities treasuries and gold, which in flip will increase the demand for them within the open market.
Nonetheless, gold’s upside was capped by robust US labour market knowledge, which famous that 147,000 jobs have been added to the US financial system in June 2025. The US unemployment price additionally dropped to 4.1%, in comparison with its earlier stage of 4.2% in Might 2025.
Gold Value Outlook
Jigar Trivedi, Senior Analysis Analyst at Reliance Securities, expects that the commodity market traders will monitor the gold costs fastidiously because the 9 July tariff pause deadline nears.
Though the US financial calendar is ‘comparatively gentle,’ the Trump administration’s formal letter to international nations outlining the tariff charges is anticipated to be the traders’ focus for any potential market uncertainties subsequent week.
The merchants will even take a look at the US Federal Reserve’s FOMC minutes to achieve additional readability on the central financial institution’s coverage path for the remainder of the yr.
The commodity knowledgeable expects the MCX Gold for the August contract to discover a ‘good’ assist close to the ₹96,000 per 10 grams stage with a “constructive” outlook, whereas the US-based Comex gold is anticipated to commerce within the vary of $3,300 to $3,400.
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Disclaimer: This story is for academic functions solely. The views and suggestions above are these of particular person analysts or broking firms, not Mint. We advise traders to test with licensed consultants earlier than making any funding selections, as market circumstances can change quickly, and circumstances could fluctuate.
