.png){kind=logo}
Gold prices saw an increase in prices during early trading on Friday, January 9. The increase was attributed to a softer US dollar, continuing geopolitical tensions, and strong demand in the domestic market. On Multi-Commodity Exchange (MCX), February gold futures increased 0.20% to Rs. 1,38,012 per 10 grams. Silver March futures increased 0.72% to Rs. 2,45,072 per kg.
The price of 24K gold increased by Rs. 71 by 10:20 am on Friday. 10 grams of the precious metal traded at Rs. 1,38,710 at the press time.
The price of 22K gold also increased by Rs. 65, with ten grams of the yellow metal selling at Rs. 1,27,150.
The price of ten grams of 24K gold stood at Rs. 1,38,710 in Mumbai and Kolkata, and Rs. 1,39,640 in Chennai.
In Delhi, the price of ten grams of 24K gold stood at Rs. 1,38,860.
The recent decline of the dollar index in the US supported the gold prices. The dollar briefly reached 98.99, the dollar weakened amid profit-taking, and thus gold became less expensive for buyers in overseas.
In the international markets, the US gold futures for February delivery posted an increase of 0.30%, a sign of continuous investor interest.
Geopolitical risk remains one of the key reasons for gold's strong standing. As the US-Venezuela conflict remains in focus, US President Donald Trump's recent comments on Greenland have seen sharp reactions from NATO.
Moreover, the traders' concern over US tariffs and a potential 500% tariff on countries buying Russian oil has created fears of slower global growth, further boosting gold's demand.
Gold prices in the US faced some pressure even though there were advances in Asian trade overnight. The price of spot gold dropped by 0.4% to $4,458 per ounce, after reaching a peak of $4,549.71 in December.
The situation with silver prices was different and more turbulent as spot silver lost 1.5% at a price of $75.71 per ounce, and platinum followed suit, falling almost 3%, both backing off from the recent notable peaks.
Also Read: Top Gold Mutual Funds in India to Add to Your 2026 Investment Watchlist
Internationally, gold has support at $4,430 and $4,400, while resistance is at $4,484 and $4,522 per troy ounce, and silver has support at $73.80 and $71.70, while resistance is at $78 and $80 per troy ounce.
On the MCX, gold has support at Rs. 1,37,000 and Rs. 1,36,200 and resistance at Rs. 1,38,400 and Rs. 1,39,100, while silver has support at Rs. 2,39,500 and Rs. 2,34,400 and resistance at Rs. 2,48,000 and Rs. 2,51,500.
