Gold Prices Plunge 9% on MCX Amid High Volatility; Comex Spot Price Also Dips
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Moneycontrol•30-01-2026, 16:01
Gold Prices Plunge 9% on MCX Amid High Volatility; Comex Spot Price Also Dips
- •Gold futures on MCX dipped 9% to Rs 1,55,569 per 10 grams of 24-carat purity by 3:28 pm IST on January 30.
- •This decline follows a record high of Rs 1,82,130 for February futures on January 29.
- •On Comex, the spot price of gold fell 6.20% to $4,988 an ounce, influenced by a resurgent dollar.
- •The broader precious metals surge is attributed to geopolitical and macroeconomic risks, a weaker US dollar, and policy uncertainty.
- •Justin Khoo, Senior Market Analyst - APAC, VT Market, notes gold's resilience, supported by safe-haven demand and geopolitical risks.
Why It Matters: Gold prices experienced a significant 9% drop on MCX due to high volatility and a stronger dollar.
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