New Delhi, Jan 22 || Gold futures on the MCX dipped close to 1 per cent on Thursday from record high in the previous session due to profit booking, amid easing geopolitical tensions and strengthening of dollar.
Fears of a US‑EU trade conflict moderated after US President Donald Trump softened his tone on acquisition of Greenland.
MCX gold February futures dipped 0.78 per cent to Rs 1,51,665 per 10 grams. Meanwhile MCX silver March futures dipped 0.62 per cent to Rs 3,16,509 per kg.
Gold rates also dropped in the international futures market, with US gold futures consolidating near $4,790–$4,800 per troy ounce, after registering a fresh record high above $4,887 earlier in the week on COMEX.
The current dip reflects healthy profit-booking amid easing tariff fears, but the broader uptrend remains powerful, analysts said.
Open interest data in the futures market showed a decline in 'OI level', currently at 9870 lots, with price showing upside momentum. According to Aamir Makda, Commodity and Currency Analyst at Choice Broking, this trend indicated a long unwinding by traders, with no addition in long positions.