Gold will react mainly to the shifting odds of a December rate cut, which means that the September NFP report may further weigh on the yellow metal, analyst said
MCX attributed the halt to a 'technical issue' and announced that trading would begin from its Disaster Recovery (DR) site, though it did not provide full details of the fault.
In a statement, MCX and MCXCCL said they are closely monitoring derivatives contracts and will take necessary measures to ensure fair and transparent trade in line with regulatory norms
Praveen Singh, head of currencies and commodities at Mirae Asset Sharekhan, has shared his outlook for the yellow metal
Gold is under pressure from geopolitical factors as traders expect that the US-driven peace efforts may lead to a breakthrough in the Ukraine war talks
President Trump said that US tariffs on semiconductor and pharmaceutical imports would be announced within the next week or so. Tariffs of pharmaceuticals could be as high as 250 per cent.
Spot gold was trading at $3,039, down around 0.25 per cent on the day, at the time of writing. The MCX Gold April contract at Rs 88,700 was up around 0.1 per cent
Gold Rate Today: FOMC rate decision, due tonight, will be crucial for commodities. The Fed is expected to keep the overnight Fed Fund rates unchanged at 4.25 per cent-4.50 per cent with a hawkish tilt
In India, Gold futures surpassed the Rs 86,000 per 10 gram-mark on the Multi-commodity Exchange (MCX) last week
Weaker dollar, geopolitical concerns over Ukraine peace process, economic and political concerns due to Trump's tariff plans and softer yields are positive for the metal
Gold is expected to trade with a positive bias as buyers have $3,000 (MCX April gold Rs 88,000) level in focus
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.
Gold rate in share market: Recovery in gold prices is being driven primarily by a sharp decline in the US yields and a retreat in the US Dollar Index
Gold rate today: A weaker-than-expected US job data may help the metal test the crucial resistance in $2,690-$2,700, says analyst at Mirae Asset Sharekhan
Spot gold traded in the range of $2,621-$2,661 on January 2
On December 26, spot gold rose on flattish US Dollar and mixed US weekly job data
Spot gold, at the time of writing this report, was trading nearly 0.77 per cent higher at $2,670, as it extended its rally to the fourth straight day
Gold prices today: Spot gold hit a fresh record high of $2,773.53 on October 29, 2024. Buying the dips is the preferred strategy
Spot gold at the time of the MCX closing was trading at $2624, up around 0.55 per cent on the day. The MCX December Gold contract at Rs 75,152 (LTP) was up nearly 0.30 per cent.
UBS analysts have raised gold's target to $2,750 per oz by end-2024 (from $2,600 per oz), $2,850 per oz by mid-2025 (from $2,700 per oz), and $2,900 per oz by end-3Q25 (from $2,750 per oz)