Gold Price today: Amid US Fed rate cut buzz, MCX gold rate continued to trade sideways but managed to sustain above ₹79,000 per 10 gm mark. Gold futures contract for February 2025 expiry on Multi Commodity Exchange opened downside at ₹79,150 per 10 gm and touched an intraday low of ₹79,022. However, the precious yellow metal soon bounced back and came around ₹79,080 per 10 gm, around ₹700, away from the lifetime high of ₹79,775 per 10 gm.
- Reliance share price jumps 3% after strong Q3 2025 results
- Sterling resumes losses before growth data
- Gold rate today: MCX gold rate hits YTD high on renewed US Fed rate cut buzz
- IRCON International share price rose 8.11% to a highest level of ₹205.99
- Spot Gold price touches the target $2700
In the international market, spot gold price oscillates around $2,715 per ounce, whereas COMEX gold price is around $2,750 per troy ounce.
Renewed US Fed rate cut buzz
Speaking on the reasons that are dominating gold rates today, Jigar Trivedi, Senior Research Analyst at Reliance Securities, said, “Easing underlying inflation in the US renewed hopes of a less restrictive Fed policy this year. The core inflation unexpectedly slowed, while headline consumer prices showed no significant upside surprises,” adding, “That supported bullion demand as progress in disinflation could prompt the FOMC to ease monetary policy, reducing the opportunity cost of holding non-yielding assets.”
Gold price outlook
“MCX gold rate is in ₹78,800 to ₹77,500 per 10 gm range. Bullish of bearish trend can be assumed on the breakage of either side of the range. We expect gold prices to trade sideways until US president-elect Donald Trump re-enters the White House. Investors are looking at the economic policy that will become visible after Donal Trump administration’s outlook on the US economy.”
Spot gold price is in $2,685 to $2,750 per ounce range.
“One should maintain a buy-on-dips strategy as Donald Trump’s entry at the White House is expected to fuel geopolitical tension and tariff war,”.
