Gold Price Dips 2.87% Weekly to $4,360; Futures Up, Geopolitical Easing Cited

• Spot gold price declined 2.87% in a week, settling at $4,360 per ounce on December 29.
• Domestic gold futures on MCX opened at ₹1,33,470 per 10 grams (24K), up 0.66% from previous close.
• Gold prices peaked on December 26, with spot at $4,546 and MCX futures at ₹1,38,300.
• The rupee weakened to 89.770 against the U.S. dollar, declining 0.14% in a day.
• Decline attributed to profit-taking ahead of the new year and easing geopolitical tensions, reducing safe-haven demand.

Why It Matters: Gold prices saw a weekly dip due to profit-taking and reduced safe-haven demand, despite daily gains.