INSUBCONTINENT EXCLUSIVE:
Gold prices edged higher to $3,340.91 per ounce on July 4, 2025, according to Trading Economics, marking a 0.44% gain from the previous
day.The market responded to a mix of macroeconomic signals and geopolitical developments, with traders closely watching U.S
fiscal policy and global tensions.The price action followed a volatile session, where gold dipped after strong U.S
jobs data but regained ground overnight as concerns about U.S
debt and Middle East risks resurfaced.The U.S
This weakness made gold more attractive to international buyers, supporting demand.Meanwhile, reports of potential military escalation in
the Middle East and uncertainty over U.S
tariff policies added to safe-haven flows
Gold futures opened at $3,369 per ounce on July 3, up 0.6% from the previous close, but prices have stayed below $3,400 since mid-June.Gold
Holds Firm as Market Eyes U.S
(Photo Internet reproduction)In India, gold traded at ?96,989 per 10 grams on the MCX at 9:35 AM, reflecting both global cues and local
Major Asian and Middle Eastern markets aligned with global prices, as physical demand in China and India remained steady.The Shanghai Gold
Exchange and other regional hubs saw robust activity, with buyers responding to currency moves and geopolitical headlines
ETF flows have shown mixed signals.After record inflows in the first quarter of 2025, recent weeks saw net outflows, with May registering a
$1.8 billion decline led by North America and Asia.However, total ETF holdings remain near historic highs, indicating that institutional
Technical analysis of the daily chart reveals a market in consolidation.The price hovers near the 50-day and 100-day moving averages, with
the 200-day average well below current levels, confirming a long-term uptrend
The Relative Strength Index (RSI) stands near 51, suggesting neutral momentum and no clear overbought or oversold conditions.The Moving
Average Convergence Divergence (MACD) indicator shows a flattening trend, with the signal line and MACD line converging, reflecting a pause
in upward momentum.Bollinger Bands indicate that price volatility has narrowed, with gold trading close to the middle band, signaling a lack
of strong directional bias
Support levels appear at $3,285, while resistance sits at $3,350 to $3,400.The four-hour chart confirms this consolidation, with price
action oscillating between these key levels
Volume analysis does not show any significant spikes, suggesting that recent moves lack conviction from large market
participants.Macroeconomic fundamentals continue to drive the narrative
The passage of a major U.S
tax-cut and spending bill has raised concerns about long-term debt, which supports gold as a hedge.At the same time, strong U.S
story over the last 24 hours reflects a market caught between competing forces
Fiscal and geopolitical concerns support prices, while strong economic data and a resilient dollar cap gains
Technical indicators point to consolidation, with no clear breakout in sight.Traders and investors continue to watch for decisive moves in
