Gold Prices Dip on MCX Amid Profit Booking; Expert Recommends Trading Calls
Commodity
M
Moneycontrol•07-01-2026, 09:54
Gold Prices Dip on MCX Amid Profit Booking; Expert Recommends Trading Calls
- •Gold prices on MCX fell by ₹317 (0.21%) to ₹138,788/10 grams for February Futures due to profit booking and a strengthening dollar.
- •March Silver Futures also declined by ₹681 (0.26%) to ₹258,130.00/kg on MCX.
- •Strong spot demand, geopolitical uncertainties, and US Fed interest rate cut expectations limited the overall decline in gold.
- •Other commodities saw mixed trends: Copper and Crude Oil futures were down, while Natural Gas contracts rose.
- •Ajay Kedia of Kedia Commodity provided buy recommendations for MCX Gold (target ₹140000), Silver (target ₹260000), and Copper (target ₹1350).
Why It Matters: Gold and silver prices dropped on MCX due to profit booking, but experts see new trading opportunities.
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