Gold prices fell 0.73 per cent this week as investors booked profits after the precious metal hit multi-week highs.
Data from the India Bullion and Jewellers Association showed the price of 10 grams of 24-carat gold at ₹1,58,399 on Friday, down from ₹1,59,568 on Monday.
On the Multi Commodity Exchange, gold February futures slipped 0.04 per cent, while silver March futures declined sharply by 3.24 per cent.
Gold futures traded around ₹1,58,400, with silver at ₹2,59,279 per kilogram.
Analysts attributed the decline to a stronger US dollar and shifting expectations around global interest rates, which typically make gold more expensive for international buyers and reduce demand.
Despite this, geopolitical tensions and economic uncertainty continued to support gold’s appeal as a safe-haven asset.
Elevated crude oil prices, driven by concerns over potential supply disruptions, also bolstered inflation fears, maintaining underlying demand for the metal.
Trading remained active as investors monitored key technical levels amid intermittent profit-taking and intraday volatility.
Geopolitical tensions rose after the US targeted Iran’s Kharg Island, a key oil hub, raising supply concerns.
MCX gold faces resistance at ₹1,63,000–₹1,63,200 and support at ₹1,57,500–₹1,58,000. Silver slipped, with support at ₹2,54,000–₹2,58,000.
Experts say tensions and inflation could keep gold prices supported.
Investors are likely to remain cautious yet maintain interest in the metal as a hedge against economic and market risks.
Also Read: Gold, Silver Prices Ease On MCX As Investors Book Profits After Record Rally
To read more such news, download Bharat Express news apps
