Editor’s Note
After a multi-day slump, gold prices rebounded sharply on the MCX at Monday’s opening.
Gold Price Today, February 4
Gold prices witnessed a sharp surge at the opening of trade on the Multi Commodity Exchange (MCX) today. After a continuous decline for the past few days, gold prices have shown a strong rebound.
Market Performance
The April expiry gold contract on MCX was trading near Rs 160,000 per 10 grams around 9:23 AM, up by approximately 3.7% or Rs 5,695.
Spot gold also saw an increase of nearly 2% today, crossing the $5,000 per ounce mark.
Recent Price Trends
On January 29, gold prices had reached a record high of Rs 183,000 per 10 grams, after which they fell by nearly Rs 30,300 or about 17%.
Meanwhile, 24-carat gold on MCX was trading at Rs 149,000 per 10 grams, down 0.16%.