Quote on Gold Commentary: 15 July 2025 by Mr. Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial services Ltd
Below the Quote on Gold Commentary: 15 July 2025 by Mr. Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial services Ltd
Silver marked its highest level since 2012 on COMEX and all time high of Rs. 1,15,000 on domestic front, while Gold traded steady, ahead of the release of U.S. inflation data later in the day that could shed more light on the Federal Reserve's interest rate path. U.S. President Donald Trump threatened to impose a 30% tariff on imports from Mexico and the European Union starting on August 1, after weeks of negotiations with the major U.S. trading partners failed to reach a trade deal. President Trump renewed his attacks on Fed Chair Jerome Powell, saying interest rates should be at 1% or lower. Markets are pricing in 50 bps of rate cuts by year-end, with the first reduction expected in September. Meanwhile, along with domestic ETF flows, industrial demand, a catch-up rally post gold move since start of this year and up-move in industrial metals are some factors supporting the overall rally in Silver. After an all-time high, we could see some profit booking, also economic data from China has been reported lower than expectations weighing on industrial metals including Silver. Focus now shifts to US CPI, PPI, Retail sales and Industrial production data.
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