Gold Rate Today: Gold price decreased again, this is the price per 10 grams today

Gold prices fell for the third consecutive day on Friday in the national capital. According to the All India Sarafa Association, gold fell by Rs 170 to Rs 78,130 per 10 grams. The precious metal of 99.9 per cent purity closed at Rs 78,300 per 10 grams on Thursday. According to a PTI report, gold of 99.5 per cent purity fell by Rs 170 to Rs 77,730 per 10 grams as against the previous close of Rs 77,900 per 10 grams. Traders attributed the fall in gold prices to weak demand from local jewellers.

gold in futures trading today

According to the news, in futures trading on MCX, the price of gold contracts for February delivery rose by Rs 50 or 0.07 per cent to Rs 75,701 per 10 grams on Friday. Gold witnessed marginal buying at the $2,600 level on Comex, with the Rs 75,500 level acting as temporary support in the domestic MCX market. Jatin Trivedi, VP Research Analyst, Commodity & Currency, LKP Securities, said, “Although the Fed has decided to keep rates low, its projections have indicated further rate cuts, which has kept pressure on gold prices for the last two days.

Expert opinion

HDFC Securities Senior Analyst (Commodities) Saumil Gandhi said if the actual data is above estimates, precious metals counters could fall. According to Kotak Securities, Comex gold futures recovered slightly on Friday and traded near USD 2,620 an ounce, but are headed for a weekly decline as investors re-evaluate interest rate expectations following the US Federal Reserve’s latest decision.

These factors also have an effect on gold

Even after the interest rate cut, Fed Chair Powell’s emphasis on the continued progress on inflation has dampened expectations of further easing. With central banks actively accumulating gold to hedge against global risks and rising geopolitical tensions, as well as growing unrest in the Middle East and uncertainty over economic policies under Trump’s presidency next month, gold’s long-term outlook as a safe-haven remains highly attractive, said Chintan Mehta, chief executive officer of Abans Holdings.