GLOBAL GOLD PRICES FALL, DOLLAR WEAKNESS CUSHIONS DROP
Published on Jan 21, 2025 14:06
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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