Gold Prices Fall Globally & Domestically; Volatility Expected Ahead

• Global gold prices dropped on January 9, following a domestic decline on January 8, with spot gold at $4,470.51/ounce (0.15% down) but up 3.31% weekly.
• MCX gold futures closed at Rs 1,37,700 for 10 grams on January 8, a 0.03% decline from the previous close.
• Rupee volatility, profit-booking ahead of the US NFP report, and mixed US economic data are key factors influencing gold's recent weakness.
• Jateen Trivedi of LKP Securities predicts continued volatility due to upcoming US economic data, with gold expected to trade between Rs 1,35,000 and Rs 1,38,000.
• The article provides current gold prices for 24K, 22K, and 18K purity, along with city-wise rates across major Indian cities.

Why It Matters: Gold prices are experiencing global and domestic declines, with future volatility expected due to economic data.