Gold Prices Today: Yellow metal rates may remain choppy amid mixed cues

Gold Prices Today: Yellow metal rates may remain choppy amid mixed cues

Gold has resistance at Rs 48,700, where profit booking is expected which may bring the prices down towards Rs 48,100 levels, said Abhishek Chauhan, Head of Commodity & Currency at Swastika Investmart.





January 25, 2022 / 10:08 AM IST





Gold market stays volatile



Gold prices were steady on January 25 in the international market as concerns about a faster pace of US Federal Reserve policy tightening countered safe-haven demand fueled by escalating Ukraine tensions.

At 9.30 am, on the Multi-Commodity Exchange (MCX), gold contracts were trading higher by 0.1 percent at Rs 48,611 for 10 grams and silver futures added 0.16 percent to Rs 64,060 a kilogram.

Hawkish expectation from US Fed amid rising geopolitical issues making precious metals volatile. Two days Fed policy meeting will begin today with a widely expected hawkish tone that may put pressure on gold and silver prices. The dollar which moves opposite to gold prices has crossed 96 levels. However, the US 10-year bond yield eased ahead of the Fed meeting. On MCX, gold has resistance at Rs 48700, where profit booking is expected which may bring the prices down towards Rs 48100 levels, said Abhishek Chauhan, Head of Commodity & Currency