Gold prices fell in the domestic futures market on Friday, December 19, around noon, due to profit booking following the Bank of Japan’s (BoJ) policy decision, along with softer U.S. inflation data. As a result, MCX gold February futures dropped 0.21% to ₹1,34,236 per 10 grams by 1 pm. In contrast, MCX silver March futures rose 0.94% to ₹2,05,488 per kg during the same period.
The BoJ raised its key policy rate to 0.75%, the highest level since 1995, which is expected to impact yen-carry traders. International gold prices also declined due to weaker-than-expected U.S. inflation data and a stronger dollar index, which increased by 0.10%. U.S. consumer prices rose 2.7% year-on-year, below the forecasted 3.1% increase.
Gold remains supported by safe-haven demand amid global market volatility. Experts note that while the momentum is strong, there may be some consolidation. Jigar Trivedi from Reliance Securities expects MCX gold to trade within ₹1,34,000 to ₹1,35,000 per 10 grams.
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