Gold prices in the domestic futures market saw a rise, influenced by positive global cues, weakness in equities, and geopolitical uncertainties. The drone strike killing Hamas deputy leader Saleh al-Arouri added to the tensions.
Investors await US economic reports to gauge potential Fed rate cuts. Geopolitical unrest and rate cut expectations favor gold. MCX Gold for February 5 series traded at ₹63,330 per 10 grams.
Analysts expect gold to trade within a range, with key support and resistance levels. Long-term uptrend signals buying opportunities, especially for silver. Strategies include buying silver on dips for potential gains.