Gold Rate Today: Yellow metal falls below Rs 78,900/10 grams ahead of Trump’s inauguration speech

Gold prices declined on Monday, 20 January, as investors awaited clarity on the incoming US administration’s policies from President-elect Donald Trump‘s inauguration speech, which could provide further insights into the Federal Reserve‘s interest rate trajectory.

As of 10:11 am, February gold futures were trading at Rs 78,896 per 10 grams on the MCX, down by Rs 127 or 0.16% from the previous session’s closing price. Meanwhile, March silver futures were at Rs 91,620 per kg, rising by Rs 18.

Meanwhile, Spot gold was down 0.1% at $2,697.60 per ounce, as of 0300 GMT, after falling 0.5% earlier in the day. U.S. gold futures dropped 0.3% to $2,740.10.

Market participants were eagerly awaiting Trump’s inauguration speech later in the day, with his trade tariff policies expected to ignite inflation and potentially trigger trade wars, increasing gold’s appeal as a safe-haven asset.

Gold is traditionally viewed as an inflation hedge, but higher interest rates tend to reduce its attractiveness. The future direction of U.S. interest rates will depend on how aggressively the incoming administration enacts Trump’s policy pledges.

Spot silver fell 0.6% to $30.16 per ounce, palladium remained steady at $947.99, and platinum dropped 0.2% to $940.84.

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