Gold Price Today: The yellow metal is on a rush to wards top
Traders, good morning! Gold is the main character for the day, January 20, as its prices on the MCX soar to new all-time highs. At 9:20 am, the MCX Gold February futures reached ₹1,46,328 per 10 grams, a 0.47% increase, after momentarily peaking at ₹1,46,567. Silver March futures are also shining brightly, with a price of ₹3,12,500 per kg, a 0.72% rise, and a record ₹3,13,896.
What caused this wildness? The answer is very simple: gold is and has been the ultimate safe investment for investors. Moreover, with Trump’s latest tariff tantrum mixed with trade-war drama, money is entering the global gold market like never before. Traders are dashing around, hedging their risks, and buying gold, thus increasing the price of gold per gram every hour.
If you thought that gold was just lying quietly in the vaults, you should change your mind! The yellow metal is rushing to new heights and is being driven by geopolitical chaos, weaker dollar support, and a global safety hunt.
Gold Price On MCX Today
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MCX Gold February futures: ₹1,46,328 per 10 grams, up 0.47% at 9:20 am, after hitting a record ₹1,46,567 per 10 grams.
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MCX Silver March futures: ₹3,12,500 per kg, up 0.72%, after a record high of ₹3,13,896 per kg.
Global Gold Soars: U.S. Futures Hit Record $4,681 Amid Geopolitical Tensions
The world market for gold rallied, and U.S. February gold future rates went up almost 2%, thereby touching the peak price of $4,681 per ounce, which was a new all-time high.
The factors that contributed to the surge of gold prices were rising geopolitical tensions, trade-war concerns, and safe-haven demand, which made investors flock to the metal. Consequently, the yellow metal reached new highs amidst a global scenario of nervousness and caution.
What Is The Reason Behind Global Trade Risks Driving Gold Prices
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Gold is benefiting from heightened geopolitical risks after US President Donald Trump threatened tariffs on eight European countries.
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Retaliatory rhetoric from Europe raises the prospect of a major US–Europe trade war, boosting safe-haven demand.
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Several major economies, including China, India, and Europe, are already facing US tariffs.
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The dollar index fell nearly 0.5%, making bullion cheaper for buyers using other currencies.
Gold & Silver Support and Resistance Levels: Key Price Points for Traders
| Commodity | Market | Support | Resistance |
|---|---|---|---|
| Gold | International | $4,635, $4,610 | $4,700, $4,740 |
| Silver | International | $91.40, $88 | $96.60, $98.80 |
| Gold | MCX | ₹1,44,800, ₹1,44,100 | ₹1,46,350, ₹1,47,000 |
| Silver | MCX | ₹3,03,000, ₹2,96,600 | ₹3,14,000, ₹3,22,000 |
Aishwarya is a journalism graduate with over three years of experience thriving in the buzzing corporate media world. She’s got a knack for decoding business news, tracking the twists and turns of the stock market, covering the masala of the entertainment world, and sometimes her stories come with just the right sprinkle of political commentary. She has worked with several organizations, interned at ZEE and gained professional skills at TV9 and News24, And now is learning and writing at NewsX, she’s no stranger to the newsroom hustle. Her storytelling style is fast-paced, creative, and perfectly tailored to connect with both the platform and its audience. Moto: Approaching every story from the reader’s point of view, backing up her insights with solid facts.
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