Gold Price Today, 25 Jan 2022: Silver tops Rs 64000 per kg, gold gains amid Russia-Ukraine tensions

Gold Rate Today, Gold Price in India on 25 January 2022: Gold prices were flat with a positive bias on Tuesday, following global trends.

Gold Rate Today, Gold Price Today in India
Gold has maintained its breakout around $1840 as money is getting diverted from risky assets like crypto currencies and equities in safe haven assets

Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices were flat with a positive bias on Tuesday, following global trends. On Multi Commodity Exchange, gold February futures were trading at Rs 48,595 per 10 gram, up Rs 31, as against the previous close of Rs 48,564. Silver March futures were also ruling in the positive territory, up Rs 112 , at Rs 64,067 per kg, as compared to the last close of Rs 63,958 per kg. Globally, yellow metal prices were little changed as investors looked for interest rate hike cues from the U.S. Federal Reserve’s meeting, while safe-haven bullion was buoyed by risk-off trades over concerns of Russia-Ukraine discord, according to Reuters. Spot gold was flat at $1,841.56 per ounce while U.S. gold futures were also steady at $1,842.90.

Navneet Damani, Senior Vice President – Commodity & Currency Research, Motilal Oswal Financial Services

Gold traded steady, as investors’ anticipation regarding rate hike and balance sheet unwinding cues in the Fed policy meet weighed on the metal, while the safe haven asset got some support amid the selloff in riskier assets and concerns related to Russia-Ukraine discord. NATO sent reinforcements and the U.S. put troops on alert as Ukraine tensions rose, while Britain said it was withdrawing some staff and dependents from its embassy in Ukraine, similar to what U.S. did a day prior. Cautious approach is advised as investors will keep their eyes on the Fed’s two-day policy meeting, which will start from today, amid rate hike cues expectations in March. Focus will also be on Governor Powell’s comments regarding the outlook of the economy and inflationary concerns. On the domestic front, gold prices could hover in the range of Rs 48,250- 48,800 per 10 gram.

Tapan Patel, Senior analyst commodities, HDFC Securities

Gold prices traded steady on Tuesday with spot gold prices at COMEX were trading near $1842 per ounce. Gold prices at MCX were trading near Rs. 48585 per 10 gram supported by rupee depreciation. The yellow metal has capped downside ahead of the US FOMC meeting outcome. The traders and investors remained cautious over inflation worries and added risk premium over Russia -Ukraine tension. We expect gold prices to trade sideways to up for the day with COMEX Spot gold support at $1820 and resistance at $1852 per ounce. MCX Gold February support lies at Rs 48300 and resistance at Rs 48800 per 10 gram.

Ravindra Rao, CMT, EPAT, VP- Head Commodity Research, Kotak Securities

COMEX gold trades in a narrow range near $1840/oz after a modest 0.5% gain on Monday. Gold is range bound as support from safe haven buying, weakness in equity market and lower bond yields is countered by firmness in US dollar and increased expectation for Fed’s monetary tightening. Gold ETF investors also moved to sidelines after sharp inflows last week. Gold may remain choppy amid mixed factors however firmer US dollar ahead of Fed decision may keep pressure on prices.

Bhavik Patel, commodity and currency analyst, Tradebulls Securities

Gold has maintained its breakout around $1840 as money is getting diverted from risky assets like crypto currencies and equities in safe haven assets like Gold and US Dollar, before the important US Fed meet. Hedge funds are caught on the wrong foot right now as they have continued to increase their bearish bets. We believe two reasons for the hike in gold prices, one was a rise in geopolitical situation and second was renewed demand from Gold’s ETF. Friday saw inflows of 27.6 tones with a market value of more than $1.6 billion dollars. This was the biggest dollar-valued inflow since its listing in 2004. Gold is expected to trade steady till the announcement of the FOMC meeting where new direction will take place in Gold after the Fed would have stipulated its stance and timeline of increasing rates.

(The views and investment tips in this story are expressed by the respective experts of research and brokerage firm. Financial Express Online does not bear any responsibility for their advice. Please consult your investment advisor before investing.)

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