Gold Price Forecast for Next Week

Gold Price Forecast for Next Week (30th June - 4th July 2025)

Comex Gold spot has experienced a profit booking from the peak levels for 2nd consecutive week, declined marginally by -2.80% last week and closed on a negative note at $3273 / ounces. Key hurdle would be at $3337 and on the other side $3250 - $3210 will be crucial supports.

Gold struggled through the week, pressured by easing geopolitical tensions and cautious signals from the U.S. Federal Reserve. Fed Chair Powell’s warning that Trump-era tariffs could stoke inflation dampened hopes of imminent rate cuts, reducing bullion’s appeal. With safe-haven demand fading and rate expectations recalibrating, gold prices plunged.

MCX Gold August contract has continued its downside momentum for second consecutive week, plunged by -3.60%, closed on a negative note at 95524. Price has declined marginally from the life-time high by nearly -6%. Price has remained in Rising channel however managed to close below 20 and 50-DMA levels placed at 97522 - 95780 respectively. Key support would be at 100-DMA level placed at 92116. Daily SAR is placed at 100,080. OI levels has significantly inclined in recent sessions to 14900 lots along side price-decline which signifies weakness in Gold price.

In coming week, we are expecting Sideways to Bearish trend in Gold price and price traders should keep an eye on key US ISM Services and Employment data such as Job opening, Avg. hourly earnings, Non-farm employment change, Unemployment rate and Unemployment Claims which are scheduled to be release in next week.

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Prediction given by Technical Research Team - Choice.