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As on : 21-Jan-2025
Other Markets - Bullion Markets
21-Jan-2025     14:06

Global gold prices fall, dollar weakness cushions drop

Gold prices fell below $2740 in Asia's electronic trades on Tuesday as markets focused on the potential economic impact of US President Donald Trump's policies. His announcement of possible 25 percent tariffs on Mexico and Canada added to investor uncertainty. Despite the decline, a sharp drop in the US dollar, with the index sliding to 108, provided some support to gold. Geopolitical developments, including a ceasefire agreement between Israel and Hamas, also influenced market sentiment. MCX February gold futures gained ₹385 to trade at ₹78929 per 10 grams, supported by a weaker dollar, with resistance around ₹79400 and support near ₹78700.

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