Gold and silver futures fell on Tuesday as investors booked profits and adopted a cautious stance ahead of the US non-farm payrolls report. The data is expected to provide fresh cues on the Federal Reserve’s interest rate trajectory. On MCX, gold dropped 0.25% while silver declined 0.6%.
Precious metals witnessed a pullback in futures trading as profit-booking dominated sentiment ahead of crucial US economic data. The non-farm payrolls report, due later this week, is expected to shape expectations around the Federal Reserve’s monetary policy, prompting traders to lock in recent gains.
Key Highlights:
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Gold Futures: On the Multi Commodity Exchange (MCX), February gold contracts fell by ₹341 (0.25%) to ₹1,33,789 per 10 grams, with a turnover of 13,900 lots.
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Silver Futures: March silver contracts dropped ₹1,189 (0.6%) to ₹1,96,712 per kilogram, across 11,024 lots.
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Global Market: Comex gold futures for February delivery slipped $37.8 (0.87%) to $4,297.4 per ounce, snapping a three-day winning streak.
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Investor Sentiment: Traders adopted a cautious approach, awaiting US payrolls data that could influence Fed rate decisions.
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Additional Factors: Easing geopolitical tensions and rising silver demand in India as a strategic asset also shaped market dynamics.
The decline underscores how global macroeconomic signals continue to drive precious metal prices, with investors balancing short-term profit-taking against long-term policy expectations.
Sources: The Hindu Business Line, Free Press Journal, Rediff Money, Deccan Herald