Gold price today: Gold rates declined in the domestic futures market on Wednesday (January 7) morning due to profit booking amid the dollar’s rise. However, healthy spot demand amid geopolitical uncertainties and expectations of US Fed rate cuts capped losses for the yellow metal. MCX gold February futures were 0.17% down at ₹1,38,850 per 10 grams around 9:10 am. MCX silver March futures were, however, up 0.19% at ₹2,59,310 per kg at that time.
Comex gold also slipped on Wednesday as investors booked profits amid a stronger dollar.
The dollar index hovered near its two-week high level, making greenback-backed bullion cheaper for overseas buyers.
While the US-Venezuela conflict has raised geopolitical uncertainty, supporting gold prices, investors are booking some profits in the yellow metal after the steep rise last year. Domestic spot gold jumped by ₹56,727, or 75%, per 10 grams, while silver surged by ₹1,43,601, or 167%, per kg in 2025.
Meanwhile, according to Reuters, the US and Venezuela have reached a deal to export Venezuelan crude worth up to $2 billion to the US.
(This is a developing story. Please check back for fresh updates.)
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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
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