Gold Price Today — India February Gold futures price dropped on January 14 after the United States dropped China’s designation as a currency manipulator ahead of an interim deal between the two sides to ease their trade dispute.
Global equities rallied to reach fresh record highs as the world’s two biggest economies prepare to formalise a truce.
US Trade Representative Robert Lighthizer said that the Chinese translation of the deal was almost completed and would be made public on Wednesday, just prior to a signing ceremony, it said.
MCX Gold contracts for February were trading lower by Rs 201, or 0.51 percent, at Rs 39,345 per 10 gram at 09:20 hours.
MCX Gold Silver prices tips extend fall on Monday amid a rally in global equities and strength in rupee pushed both the precious metals lower.
Spot Gold breached key support of $1,550 per troy ounce in the international market while Silver prices also closed below $18 per troy ounce.
Experts suggest that volatility is likely to continue in Gold in the short term amid a rise in rupee and rally in global equities. Traders could go short in the short term with a target near ₹39,230.
“We expect strength in equities and rupee could continue to keep both the precious metals under pressure. Gold prices could test next support of $1,525 and Silver prices could test $17.60 per troy ounce
