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The price of gold experienced a slight decline today due to profit-taking in the market, leading to downward pressure. In futures trading, gold prices fell by ₹1,120, bringing the cost to ₹67,832 per 10 grams, as weak global signals impacted market sentiment.
However, geopolitical tensions and discussions surrounding the US trade war and Donald Trump's protectionist policies led to a surge in gold demand on Wednesday evening (February 5). The MCX gold price hit a new high of ₹84,767 per 10 grams, reflecting investor interest in safe-haven assets like gold amid uncertainty.
Gold Futures Update
Despite a lower start, the April 2025 gold futures contract on the Multi Commodity Exchange (MCX) quickly gained momentum.
Opening Price: ₹84,460 per 10 grams
Intraday Peak: ₹84,569 per 10 grams
This uptrend indicates that investors continue to see gold as a stable investment in times of market fluctuations.
Global Market Gold Prices
Gold prices in the international market also saw fluctuations due to economic and geopolitical factors.
Spot Gold Price: $2,869 per ounce
New High Reached: $2,877 per ounce (Wednesday)
Uncertainties around US tariffs, trade wars, and geopolitical tensions are playing a crucial role in influencing global gold prices.
Gold Prices in Major Indian Cities (February 6, 2025)
Here’s a look at today’s gold rates (per 10 grams) in various Indian cities:
| City | 22-Karat Gold (₹) | 24-Karat Gold (₹) |
|---|---|---|
| Delhi | ₹7,945 | ₹8,666 |
| Noida | ₹7,945 | ₹8,666 |
| Chennai | ₹7,930 | ₹8,651 |
| Bangalore | ₹7,930 | ₹8,651 |
| Mumbai | ₹7,930 | ₹8,651 |
| Hyderabad | ₹7,930 | ₹8,651 |
| Kolkata | ₹7,930 | ₹8,651 |
| Ahmedabad | ₹7,935 | ₹8,656 |
| Patna | ₹7,935 | ₹8,656 |
Key Takeaways
Gold prices dipped in futures trading due to profit-booking, but geopolitical uncertainty continues to drive long-term demand.
MCX gold prices hit a record high of ₹84,767 per 10 grams amid growing investor interest.
Global spot gold prices touched $2,877 per ounce, reflecting international market fluctuations.
Gold rates remain strong across major Indian cities, with Delhi and Noida recording the highest prices today.
As the market remains volatile, gold continues to be a preferred safe-haven asset for investors looking for stability. Stay updated for further price movements and investment trends.
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