bullion

Gold prices face a mixed outlook this week, influenced by US-Iran peace talks, oil market shifts, and crucial US economic data. Federal Reserve officials' speeches will also guide interest rate expectations, impacting bullion's near-term trajectory. Analysts suggest a sideways to corrective momentum for precious metals, with progress in peace discussions potentially easing safe-haven demand.

India's gold demand has plummeted by nearly 70% following a government increase in import duty from 6% to 15%. This, coupled with rising fuel and food prices, has significantly dampened consumer sentiment and spending on discretionary items like gold.

Gold prices surged on Monday, buoyed by global market optimism stemming from potential US-Iran peace talks. Retail rates in major Indian cities also climbed, with 22K, 24K, and 18K gold seeing gains. Analysts attribute this rise to a weaker US dollar and easing crude oil prices, signaling reduced inflationary fears and supporting precious metal markets.

Gold prices are expected to remain steady this week, influenced by US-Iran talks and upcoming US economic data. Silver, however, may continue to outperform due to geopolitical tensions and high crude oil prices. Investors await signals on the Federal Reserve's next policy move amidst shifting statements from Washington and Tehran.

Sovereign Gold Bond (SGB) investors who purchased bonds between 2019 and 2021 can now apply for premature redemption in June 2026. The Reserve Bank of India has opened redemption windows for five specific bond tranches, requiring investors to submit requests within strict timelines to avoid rejection.

Gold price prediction today: Despite some correction, gold prices are broadly seeing a bullish rise in prices, says Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial Services Ltd.

Rising silver prices are fueling a surge of impure silver bars and coins in India, prompting calls for mandatory BIS hallmarking and licensing for refiners. Industry experts report widespread use of scrap silver containing prohibited elements, with limited quality testing infrastructure exacerbating concerns. Commodity exchanges are preparing to introduce quality-certified silver bars to standardize supply and enhance market trust.

Gold price prediction today: Given the geopolitical tensions and a possible change in the US Federal Reserve’s stance, gold prices are likely to see limited upside in the near term, says Vedika Narvekar, Research Analyst - Commodities & Currencies, Anand Rathi Shares and Stock Brokers.

Indians are adapting their gold purchases, opting for lighter, more affordable jewellery and exploring alternatives like silver and diamonds. While tradition remains strong, consumers are making conscious choices, balancing emotional value with investment prudence. Experts suggest a diversified portfolio, with gold as a long-term hedge, as the industry navigates changing consumer behavior and economic shifts.

Electronic Gold Receipts (EGRs) are now trading on the NSE, revolutionizing India's gold market. This digital format, backed by physical gold in SEBI-regulated vaults, offers investors a secure and transparent way to hold the precious metal. EGRs aim to overcome traditional concerns like purity and storage, integrating gold more closely with the capital markets.