Gold prices in India are just ₹2,700 shy of record highs, closing at ₹1,29,599 per 10 grams. A weak US dollar and Fed rate cut expectations are driving demand. Analysts predict prices could touch ₹1,34,000 if momentum continues, reinforcing gold’s role as a safe-haven investment.
Gold prices in India are now just ₹2,700 away from their all-time peak, driven by strong global cues and expectations of a US Federal Reserve rate cut. On Friday, MCX gold futures (Feb 2026 contract) closed at ₹1,29,599 per 10 grams, up ₹1,932 or 1.51%, marking the fourth consecutive monthly gain.
Key Highlights
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Near Record Levels: Analysts suggest gold could soon test ₹1,34,000 per 10 grams, provided it sustains above the ₹1,30,000 closing level.
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Global Drivers: A weak US dollar and rising bets on a 25-basis-point Fed rate cut have fueled investor interest in safe-haven assets.
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Market Sentiment: Gold demand has surged across global bourses, with traders positioning for monetary easing and hedging against economic uncertainty.
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Domestic Impact: Indian investors are witnessing strong returns, with gold outperforming equities in recent months, reinforcing its role as a hedge against inflation and currency volatility.
Experts believe that if the Fed signals a dovish stance in upcoming meetings, gold may climb to new record highs, strengthening its appeal as a safe-haven investment.
Sources: Livemint, Business Today, Financial Express