There was almost no change in the price of gold on Friday. In the national capital, gold prices remained almost stable at Rs 79,700 per 10 grams. According to All India Bullion Association, on Thursday this precious metal closed at Rs 79,720 per 10 grams. According to PTI news, the price of gold of 99.5 percent purity increased by Rs 130 to Rs 79,300 per 10 grams on Friday.
gold in futures market today
In futures trade on MCX, gold contracts for February delivery are trading up by Rs 6 at Rs 77,723 per 10 grams. Jatin Trivedi, VP Research Analyst, Commodity and Currency at LKP Securities, said gold prices registered marginal gains in the domestic market, while Comex gold remained steady around $2,655 an ounce.
Trivedi said the market remains stable with limited volatility as participants await further global cues to determine the next direction. Globally, Comex gold futures rose $2.10 an ounce, or 0.08 per cent, at 2,671. It became $10 per ounce.
What do experts say
Saumil Gandhi, senior analyst (commodities), HDFC Securities, said US President Joe Biden has discussed contingency plans to attack Iran’s nuclear facilities if Iran makes progress in developing a nuclear bomb before Trump’s inauguration on January 20. Discussed, after which gold prices rose on Friday due to demand for safe investment.
Manav Modi, Commodity Research Analyst, Motilal Oswal Financial Services Limited, says that the attention of market participants is shifting towards geopolitical tensions, which is increasing the crisis in the market and providing support to both gold and dollar.
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