Gold rates moved higher in the domestic futures market in the morning sessions on Monday, December 30. Aiming for a fresh escalation of tension in the Middle East. The stable dollar and the US Bond yields also influence the sentiment. The MCX gold for February 6 expired the trade by 0.24% higher at ₹76,731 per 10 grams around 9:20 AM.
Israeli forces attacked the al-Wafaa Hospital in Gaza City on Sunday, killing a number of Palestinians throughout Gaza, according to media sources. Additionally shelled was the Ahli Hospital, which is nearby.
Following substantial price volatility amid a stable dollar index and US 10-year bond yields, gold prices fell in the previous session.
Experts noted that the weakening of developing market currencies and the Bank of Japan’s signal for interest rate hikes also affected the price of gold and silver.
As investors concentrated on Donald Trump’s tariff policy and the US Federal Reserve’s interest rate trajectory, the US dollar and bond yields remained mostly unchanged Monday morning. According to experts, Trump’s trade policies and the US Fed’s monetary policy will have a significant impact on gold prices in the upcoming year.
Reuters reported
“Markets are now preparing for major policy shifts, including tariffs, deregulation, and tax changes, in 2025 as President-elect Donald Trump returns to the White House in January,”.
The Manjoj Kumar Jain of the Prithvifinmart Commodity Research highlighted the geopolitical tensions and the Chinese inspiration’s hopes early next year are supporting the gold and silver prices at the lower level.
Jain suggested that gold and silver are trading near their make-or-break levels of $2,588 and $29.88. If they hold these levels the smart recovery will be possible in the upcoming session.
