Gold Prices Today: Gold futures drop Rs 20 to Rs 77,038; silver slips Rs 150 to Rs 80,019

Gold futures declined on Monday as investors remained cautious ahead of crucial US economic data that could provide clarity on the Federal Reserve's interest rate trajectory. On the Multi Commodity Exchange (MCX), gold futures for February delivery dropped marginally by Rs 20 to Rs 79,150 per ten grams, reflecting subdued market sentiment.

Investors eye US economic data

Market participants are closely monitoring upcoming US jobs and manufacturing data, which could influence the Fed's monetary policy decisions. The central bank’s stance on rate hikes will likely set the tone for gold prices in the near term. US gold futures were down 0.1 per cent at $2,652 per ounce, signalling market uncertainty.

Silver futures follow suit

Silver futures mirrored gold’s trajectory, declining by Rs 150 to trade at Rs 80,190 per kilogram on the MCX. Internationally, silver prices remained relatively stable, with spot silver up 0.1 per cent at $29.64 per ounce.

2025 outlook for precious metals

Gold prices have witnessed significant volatility, with analysts predicting that prices could touch Rs 90,000 per ten grams this year amid geopolitical tensions and global economic uncertainties. A weaker US dollar and slower rate hikes may further support gold’s bullish momentum.

Experts recommend investors adopt a balanced approach, considering both gold and silver futures as part of a diversified portfolio. "Gold remains a strong hedge against inflation, but short-term fluctuations may persist,"  says Goldman Sachs. 

Global cues

Other precious metals saw mixed performance, with platinum down 0.7 per cent at $931.70 and palladium shedding 0.4 per cent to $918.63 per ounce. The broader market sentiment remains tepid as investors weigh the Fed's policy against potential economic headwinds.