At $5,028 an ounce (2:50 am GMT), gold entered the February 12 session higher on Comex, down about 0.31% from its closing price.
The MCX’s domestic metal price ended the Wednesday session at Rs 1,58,650, a decrease of 0.07 percent from the previous close. During its 18:30 pm rate session, the International Bullion and Jewellers Association set the benchmark price of gold at Rs 1,56,113 for 10 grams of 24-carat purity, a percentage increase from Rs 1,55,700 over the previous day.
Market players are keeping a tight eye on important US retail sales data, as well as non-farm payroll and unemployment figures, which are anticipated to cause volatility by influencing the short-term price direction of bullion and forming expectations about the Fed’s policy stance. As of right now, FedWatch traders are pricing in the impending policy decision at 92.1 percent for 350–375 basis points.
In the meantime, the rupee was trading at 90.70 against the dollar, a little weaker. According to analysts, rising petroleum prices might boost the import bill and maintain pressure on the currency, particularly given the rise in imports from Western markets.
Prices for gold fluctuate according to purity. Examine gold prices according to purity:
With only slight variations brought on by local taxes, jeweler’s margins, and transportation expenses, gold prices in India’s major cities were very consistent.
Ahead of this week’s important US statistics on unemployment and non-farm payrolls, the gold-traded business saw gains of Rs 1,700 at Rs 1,58,500. For the past few sessions, CME Gold has maintained support above the critical $5,000 line, holding firm above $5,050 and trading close to $5,066. This has kept the short-term trend intact.
According to Jateen Trivedi, VP Research Analyst (Commodity and Currency) at LKP Securities, “on the MCX, immediate support is expected near ₹1,55,000, while resistance is set in the ₹1,60,000–₹1,62,000 zone. Volatility is likely to grow around U.S. data releases.”
In the meanwhile, investors are increasingly looking to precious metals for profits. Gold exchange-traded funds (ETFs) saw record inflows of about Rs 24,000 crore in January, according to the most recent data from AMFI.
According to Navneet Damani of Motilal Oswal Financial Services, “gold and silver also provide you options in how you play them: physical, ETFs, or exchange contracts, depending on your risk appetite and time horizon.” In the fiscal year 2026, there were around Rs 61,000 crore in total inflows into gold ETFs.
Damani pointed out that central bank purchases have a significant influence on gold prices. “China and other emerging markets are leading the way with 800-1000 tonnes annually. These purchasers are making calculated choices on reserves and de-dollarization rather than responding to daily fluctuations in exchange rates. Gold becomes less of a tactical trade and more of a structural hedge when concerns about fiscal imbalances and geopolitical dangers are included.
After record purchases in 2022 and 2024 with a sharp increase in the price of the precious metal, reports indicate that central banks’ net gold purchases totaled 863 tonnes.
