Gold prices witnessed mild profit booking in the domestic futures market on Thursday as investors turned cautious ahead of crucial US inflation data and a firmer dollar. After touching record highs in the previous session, precious metals buying paused as investors booked gains.
On the Multi Commodity Exchange (MCX), gold February futures slipped around 0.2% to trade near Rs. 1,34,600 per 10 grams, while silver March futures declined nearly 0.5% to around Rs. 2,06,450 per kg in early trade.
Gold prices increased in Mumbai. 24K gold rose to Rs. 13,484 from yesterday’s Rs. 13,451per gram. The price for 10 grams of 24K gold has also increased to Rs. 1,34,840.00 from Rs. 1,34,510.00.
Similarly, 22K gold prices have also increased to Rs. 12,360.00 per gram from Rs. 12,330.00; the cost for 10 grams of 22K gold has jumped to Rs. 1,23,600.00 from Rs. 1,23,300.00.
In Chennai, gold prices also increased. 24K gold price per gram trades at Rs. 13,571.00 from the previous price of Rs. 13,528.00.
The price of 10 grams of 24K gold has also risen from Rs. 1,35,280.00 to Rs. 1,35,710.00.
The key focus for global markets is the US Consumer Price Index (CPI) data for November, due later today, followed by the Personal Consumption Expenditures (PCE) inflation data on Friday.
These inflation readings are expected to shape expectations around the US Federal Reserve’s interest rate path.
Recent economic data showing the rise in the US unemployment rate to its highest level in over two years has strengthened bets on a potential 25-basis-point rate cut by the Fed in early 2026, which supports gold in the medium term.
Adding to global volatility, investors are also watching the Bank of Japan’s policy decision, where a rate hike to multi-decade highs is anticipated.
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In the international market, gold has support near $4,300 per ounce, while resistance is seen closer to the $4,400-$4,440 zone.
Silver has support around $63.60-$65.00 and resistance near $68.20-$70.00.
On the MCX, gold support is seen near Rs. 1,34,200 and Rs. 1,33,650, while resistance lies at Rs. 1,35,500 and Rs. 1,36,300.
For silver, key support levels are at Rs. 2,05,000 and Rs. 2,02,000, with resistance near Rs. 2,10,000 and Rs. 2,14,000.