Silver MCX Tips for Today Hit All Target Mint Money, Gold prices in the global market have declined nearly five percent since January 1, 2021, with the metal falling 2.77 percent during the week ended February 6.
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On February 8, gold gained a tad to quote at $1,810.69 per ounce as the US dollar slipped against the Japanese yen for the first time in eight days. Prices have dropped more than $50 since February 1.
Gold analysts say the metal could see a fall of another $100, though technical charts show good support in the $1,775-1,780 range. If gold manages to rise, it could face resistance around 1,825.
In India, gold (fine 999) was sold at Rs 4,739 a gram on February 8 against Rs 4,875 per gm on February 1, while 22-carat gold, used in jewellery, is sold at Rs 4,578 against Rs 4,709 a week ago.