Gold prices witnessed a decline during the morning session in the domestic futures market. At 10:12 am on January 7, the price of gold on MCX for February 5 expiry fell by 0.02 percent to Rs 77,140 per 10 grams. However, around 9:10 am, gold was trading 0.12 per cent higher at ₹77,250 per 10 grams. But later there was a decline in it. The US dollar declined on expectations of an easing of tariffs under the incoming Donald Trump administration. The US dollar was trading near its one-week low.
condition of gold in the last session
According to the news, the fall in gold prices in the last session was mainly due to weak demand from spot markets and increase in US bond yields. On Monday, 10-year US Treasury yields reached their highest level since May 2024. Weakness in the domestic equity market and fall in the dollar index limited gold’s losses. MCX Gold’s February futures contract closed 0.21 per cent lower at ₹77,158 per 10 grams.
According to Livemint news, the US jobs report is to come on Friday, which is important. This will influence expectations about the future trajectory of US interest rates. Traders are also awaiting US job openings data later in the day, as well as minutes from the Fed’s December policy meeting on Wednesday.
spot price of gold in delhi
Last Monday, the price of gold fell by Rs 700 to Rs 79,000 per 10 grams in the bullion market of the national capital. On Monday, the price of gold of 99.5 percent purity fell by Rs 700 to Rs 78,600 per 10 grams as compared to Friday’s previous closing price of Rs 79,300 per 10 grams.
Central banks added 53 tonnes of gold
Central banks around the world collectively added 53 tonnes of gold to their reserves in November 2024, which included eight tonnes from the Reserve Bank of India (RBI). The World Gold Council (WGC) gave this information in a report last Monday. According to the report, in the year 2024, central banks of most emerging markets remained buyers of gold in view of the need for a stable and safe asset in an environment of global economic uncertainty.
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