Gold declined on May 29. The court has stayed the recipe of President Donald Trump in the US. This has affected gold prices. The price of gold has come to the lowest level of a week. Trump indicated a change in the US policy over tariffs after taking oath of US President on 20 January. This made it strong in gold. On April 2, Trump announced the reciperook tariff. This gave more support to gold prices. Gold prices have seen a good rise in the first 5 months of 2025. But, now its glow is decreasing.
Gold declines in the country and abroad
In both the country and abroad markets on 29 May Gold There was a sharp decline. Spot gold fell 0.5 per cent to $ 3,273.37 an ounce in the international market. This is the lowest spot price of gold since May 20. US Gold Futures were also running 0.7 per cent of the traveler 3,270.80 an ounce. Here, gold was also seen in India. commodity Exchange Mcx Gold fell by Rs 722, or 0.76 per cent to Rs 94,556 per 10 grams. This is the second consecutive day when gold futures have fallen in MCX.
Dollar strength has an impact on gold
The court ban on Trump’s reciperook tariff also affected the dollar. The dollar index firmly passed beyond 100. The strengthening of the dollar affects gold prices. Buying gold in other currency becomes expensive due to the strengthening of the dollar. Trump has appealed against the decision of the Federal Trade Court. He has threatened to take the case to the Supreme Court. On the other hand, the trade court says that Trump’s decision to impose reciperook tariffs without the approval of the US Congress is illegitimate. This has ended with Trump’s tariff.
Short term may continue to fall
If the issue of tariff ends, it can reduce the glow of gold. Whenever there is uproar in the world, the glow of gold increases. The glow of gold decreases when the turmoil or uncertainty is reduced. However, there is no hope of a major decline in gold at the moment. Rahul Kalantari, VP (Commodities) of Maheta Equality, said that gold is supported at $ 3,255-3,249 an ounce. It will face resistance at 3,300-3,322 in the event of fast. India has support at Rs 94,910-94,580 per 10 grams in India.
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What should you do?
The Vice President of India Bullion and Jewelers Association, Kamboj, said that geopolitical tension declines and the dollar firmly can continue to fall in the short term. However, investors should invest in gold in long -term terms. Every decline opportunity should be used for shopping. Experts say that investors who want to invest in gold of short term should change their plan.