|
|
by IANS |
Mumbai, Feb 14 (IANS) Gold prices fell almost 1.82 per cent during the week, as investors remain cautious amid huge volatility with the dollar showing occasional bouts of strength.
Meanwhile on Friday, MCX gold February futures surged 0.20 per cent while MCX silver March futures added 3.62 per cent. Currently gold futures stand at Rs 1,56,200, while silver futures at Rs 2,44,999 per kg.
The price of 10 grams of 24-carat gold was at Rs 1,52,765 on Friday down from Rs 1,55,593 seen on Monday, according to data published by the India Bullion and Jewellers Association (IBJA).
Gold traded positive in early session on Friday, but overall tone remains volatile to weak after sharp sell-off from Rs 1,58,000 to Rs 1,54,000, as prices failed to sustain above the Rs 1,60,000 mark, said Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.
Resistance is now firmly placed near Rs 1,60,000, and if gold continues to trade below Rs 1,56,000, a retest of the Rs 1,51,000 support zone cannot be ruled out, the analyst said.
Gold and silver prices bounced back strongly on Friday buoyed by the softer-than-expected US CPI data which put pressure on the US dollar. The US Bureau of Labor Statistics reported the US CPI inflation of 2.40 per cent in January 2026 below market expectations of 2.50 per cent, however 0.30 per cent above the December 2025 CPI inflation.
Analysts said that structural supply deficits and industrial demand from green energy, EVs, AI and electronics for silver continue to underpin its bullish bias, also noting relentless gold accumulation by the central bank.
Market participants forecasted that gold and silver have entered a 3-5 year bull run, supported by favourable macroeconomic conditions, structural demand trends, and shifting investor preferences.
However, they maintained investors to only hold gold and silver as part of a diversified portfolio with 10 –
Latest News
