Gold became very cheap on Monday. In the national capital, gold prices fell by Rs 1,150 for the second consecutive session to Rs 78,350 per 10 grams. The price of gold of 99.5 percent purity fell by Rs 1,150 on Monday to Rs 77,950 per 10 grams. PTI news, All India Bullion Association gave this information. The association said gold prices fell due to heavy selling by stockists and retailers. Earlier on Friday, the precious metal with 99.9 percent purity had closed at Rs 79,500 per 10 grams.
gold in futures trading today
According to the news, gold contracts for February delivery rose by Rs 143, or 0.19 per cent, to Rs 77,279 per 10 grams in futures trade on MCX. During the day, gold touched an intra-day low of Rs 76,904 per 10 grams and high of Rs 77,295 per 10 grams respectively. Jatin Trivedi, VP Research Analyst – Commodity & Currency, LKP Securities, said gold traded in a volatile range, continuing last week’s volatility, as markets brace for several key economic events this week. .
These will affect gold!
Saumil Gandhi, Senior Analyst, Commodities at HDFC Securities, said safe haven demand provided support to gold due to ongoing geopolitical tensions in the Middle East, especially given the air and ground strikes in Gaza by Israel. After leaving. Gandhi said flash PMIs from the United States and Eurozone to be released later on Monday could impact overall risk sentiment and provide volatility for bullion.
Prices are about to rise more slowly!
Pranav Mer, vice president, EBG, Commodity and Currency Research, JM Financial Services, said gold prices are likely to remain stable. The focus may be on the outcome of the key central bank policy meeting starting with the Fed on Wednesday. There will be a meeting of Bank of Japan/Bank of England on Thursday and People’s Bank of China (PBOC) on Friday. According to the World Gold Council, after record-breaking growth this year, prices of the precious metal are set to rise more slowly in 2025.
