MCX Gold Price Analysis Prediction forecast 
Gold Analysis covers:
For 13 June 2025
What should be winning strategy for gold trading tomorrow?
Quote on Gold by Tejas Shigrekar, Chief Technical Research Analyst Commodities and Currencies at Angel One Ltd.
Gold Futures Climb as Dollar Hits Multi-Year Low
Gold futures rose amid a weaker U.S. dollar, which has declined roughly 10% this year and recently touched its lowest level since April—marking a three-year low. The dollar’s slide followed a tepid market response to the U.S.-China truce and was further pressured by soft U.S. CPI data ahead of the upcoming Fed meeting.
Geopolitical tensions in the Middle East have added to the risk-off sentiment, supporting safe-haven demand for gold. Meanwhile, South Africa’s gold output declined slightly, subtracting 0.3 percentage points from the annual change in total mining production.
*Outlook for the coming week*
For the next week, we expect GOLD prices to find support in the 96,600- 96,400 level range. Trading consistently below 96,400 levels would lead towards the strong support at 95,800 levels and then finally towards major support at 95,100 levels. Resistance is now observed in the range of 100,300-100,500 levels. Trading consistently above 100,500 levels would lead towards the strong resistance at 101,200 levels and then finally towards the major resistance at 117,000 levels.
Analysis by Kaynat Chainwala, AVP Commodity Research, Kotak Securities)
COMEX August gold futures surged to $3,382.3 per ounce, driven by a pullback in the US dollar following softer-than-expected inflation data for May, which reinforced expectations for Federal Reserve rate cuts. The US Consumer Price Index (CPI) rose just 0.1% month-over-month and 2.4% year-over-year, both figures coming in below market estimates. Gold prices later pared gains and ended the session flat amid renewed optimism surrounding US-China trade relations. President Trump stated that a trade deal is finalized, pending approval from Chinese President Xi, while China’s Vice Commerce Minister emphasized the ongoing constructive and rational dialogue between the two nations. Besides, the European Central Bank reported that gold now accounts for 20% of global foreign exchange reserves, second only to the US dollar. Today, gold is trading above $3,390 per ounce, up 1.5%, on renewed safe-haven demand spurred by ongoing geopolitical tensions in the Middle East and Trump’s announcement that unilateral tariffs will be imposed within two weeks. Market participants are now keenly awaiting US Producer Price Index (PPI) and jobless claims data for further policy direction.
WTI crude oil surged 5% yesterday to $68.4 per barrel as rising tensions in the Middle East pose serious risks to regional energy stability and global crude supply. The US State Department is reportedly preparing to evacuate non-essential personnel from its embassy in Baghdad and has authorized the departure of military families from the region due to escalating security risks, particularly related to stalled nuclear negotiations with Iran. Meanwhile, US inventory data presented a mixed picture. The EIA reported a 3.6 million barrel decline in crude oil stocks for the week ending June 6, while gasoline and distillate inventories rose by 1.5 million and 1.2 million barrels, respectively. Earlier today, oil prices briefly rose to $69.29 per barrel, highest level since April, but have since retreated to below $68 per barrel amid renewed concerns over global trade tensions, after Trump indicated he would soon notify trading partners of new unilateral tariff rates.
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