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Gold Price Today: On Friday, there was a stir in the Indian commodity market when the gold futures contract of June 2025 fell more than 2,800 on MCX (Multi Commodity Exchange). China announced to impose 34 percent retailing tariffs against the US and the gold shine faded within a few hours.
Fall up to 88,130 directly from beyond 90,000
By 7:34 pm, gold fell from 90,057 to 88,099 per 10 grams. That is, a decline of about 2.17 percent. Not only this, the global spot gold price also fell 2.4 percent to $ 3,041.11 an ounce.
What is the reason for the decline?
Actually, the market was already ready keeping in mind the possibility of trade war. But as soon as the official announcement on the tariff of America came, profit booking started. For the last few months, the impact of the trade war had been included in the prices, so as soon as the news of the tariff was confirmed, the investors started the profit book. At the same time, stress has stopped slightly in areas like Russia-Ukraine and Middle East, so the demand for “safe-han asset like gold can be reduced.
What is technically visible?
If seen, Comex Gold is getting strong resistance between $ 3,120–3,130. And if it breaks below $ 3,050, then there may be a big decline.
Will gold be cheaper in India too?
In fact, when Trump’s decision kept Gold and Silver out of the tariff, the concern of supply-side decreased slightly. This increased the inventory in Comex and started forming pressure. Now in such a situation, gold is difficult to survive above Rs 88,800 per 10 grams in the domestic market and if this level breaks, then gold can also come up to 87,000. At the same time, if the trend remains, then gold can also fall up to 84,000 per 10 grams. Its strong job report has made it clear that the Federal Reserve will not reduce interest rates early this year. Together they are making even more downside pressure for gold.
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