Gold is expected to trade with a positive bias as buyers have $3,000 (MCX April gold Rs 88,000) level in focus
The price of 22-carat gold also climbed Rs 10, with ten grams of the yellow metal selling at Rs 79,810
The price of 22-carat gold dipped Rs 10, with ten grams of the yellow metal selling at Rs 79,390
Gold's appeal as a haven from risk strengthened further as newly elected U.S. President Donald Trump turned to tariffs to aid struggling domestic industry, despite the risk of sparking a trade war
The metal was trading at $2,906, down nearly 0.40 per cent on the day, whereas the MCX April gold contract was changing hands at Rs 85,540, down nearly 0.32 per cent on the day
The price of 22-carat gold also climbed Rs 10, with ten grams of the yellow metal selling at Rs 80,110
Technical chart suggest that Muthoot Finance, Manappuram Finance and IIFL may witness some downward pressure in the near-term, and dip up to 17%; check key levels to track here.
At 6:31 AM, GIFT Nifty Futures were trading 16 points higher at 23,476, signaling a flat to positive start for Indian bourses
The price of 22-carat gold also climbed Rs 10, with ten grams of the yellow metal selling at Rs 79,810
The recent uptick in gold prices in 2025 has been led by tariff threats by US president Donald Trump, which in turn have seen investors move away from equities to safer havens.
The price of 22-carat gold also dipped Rs 10, with ten grams of the yellow metal selling at Rs 79,440
The price of 22-carat gold also dipped Rs 10, with ten grams of the yellow metal selling at Rs 79,290
The price of 22-carat gold also rose Rs 10, with ten grams of the yellow metal selling at Rs 79,310
The Reserve Bank of India may cut the benchmark repo rate by 25 basis points to 6.25 per cent later in the day
The price of 22-carat gold rose Rs 10, with ten grams of the yellow metal selling at Rs 79,060
In the previous session, Sensex dropped 312.53 points, or 0.40 per cent, to close at 78,271.28, while Nifty50 ended lower by 42.95 points, or 0.18 per cent, at 23,696.30
Stock Market Highlights on February 5, 2025: Broader markets outperformed the benchmarks, with small-cap shares leading the charge, as the Nifty Smallcap100 index ended higher by 1.85 per cent
Meanwhile, global gold demand rose 1% to a record 4,974.5 metric tons in 2024, driven by higher investment and increased central bank purchases in the 4th quarter, according to the World Gold Council
Jewellers such as Titan, which owns the Tanishq and CaratLane brands, lease gold from bullion banks, which import the metal, to avoid inventory risks due to fluctuation in prices
Gold rally is being driven more by subdued yields and US Dollar Index rather than safe haven demand