MCX Gold Price Analysis Prediction forecast 
Gold Analysis covers:
For 6 May 2025
What should be winning strategy for gold trading tomorrow?
Analysis by Paresh Gordhandas
Trading Strategy for April 29, 2025
- Technical Levels CMP Rs.
- Resistance:
R1 Rs. 97200
R2 Rs. 97000
R3 Rs. 96900 - Support:
S1 Rs. 91700
S2 Rs. 91200
S3 Rs. 90800
Risk Considerations
- Market Volatility: High volatility may lead to swift price movements; ensure stop losses are in place.
- Geopolitical Developments: New geopolitical events can rapidly alter market dynamics.
- Economic Data Releases: Upcoming economic reports could impact gold prices; stay informed.
Summary
Given the current market conditions, a bullish trading strategy for gold is recommended. Focus on long positions with appropriate risk management. Monitor technical levels closely and stay updated on fundamental factors influencing the market.
Note: This strategy is based on current market analysis and is subject to change with new information
Gold soars to record on dollar weakness, trade tears; Oil slides on Iran nuclear talk progress
(Analysis by Kaynat Chainwala, AVP Commodity Research, Kotak Securities)
COMEX gold edged higher on Friday despite stronger-than-expected U.S. labor data and signs of easing trade tensions between the U.S. and China. However, gold still ended the week down by more than 2% as the U.S. dollar gained momentum, closing above the 100 mark. The strong jobs report reduced market expectations for a Federal Reserve rate cut in the near term. Additionally, easing safe-haven demand, following reports that the U.S. had engaged China diplomatically to ease trade frictions, pushed gold prices sharply lower towards $3,200 per ounce. Today, gold surged to $3,280 per ounce on a softer dollar ahead of the upcoming FOMC policy meeting later this week. While a status quo decision is widely expected, markets cautiously eye Powell’s post-decision press conference. Furthermore, uncertainty around U.S.-China trade developments is likely to keep risk sentiment cautious.
WTI crude oil prices fell by 1.6% on Friday amid caution ahead of the OPEC+ meeting, where the group was expected to raise production for the second consecutive month in June. This decline extended last week’s losses to nearly 8%, and monthly losses reached 18.6%, marking the worst monthly performance since 2021. The selloff was fueled by reports that Saudi Arabia is unwilling to support prices through further production cuts and is prepared to endure a prolonged period of lower prices. Additional downward pressure came from potential progress toward a truce between Russia and Ukraine, developments in U.S.-Iran nuclear talks, and trade-related uncertainty. However, prices rebounded sharply to $59.9 per barrel after President Trump warned that countries purchasing oil from Iran would face U.S. sanctions, reinforcing the administration’s “maximum pressure” campaign on Tehran. Today, WTI crude oil prices resumed their decline, falling to $55.3 per barrel amid renewed selling pressure after OPEC+ confirmed a production increase of 411,000 barrels per day for June, nearly three times the initially planned volume, indicating that OPEC+ is no longer defending higher prices.
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