Gold Prices Soar Past 1.6 Lakh on MCX Amid Geopolitical Tensions

• Gold prices on MCX surged by approximately 2% on January 28, crossing the 1.6 lakh rupees per 10 grams mark for the first time.
• The rise in gold prices is attributed to ongoing geopolitical tensions, a weakening dollar, and strong spot market demand.
• MCX Gold February futures traded at 160,756 rupees per 10 grams, up 1.94%, while Silver March futures hit 372,802 rupees per kilogram, up 4.64%.
• Other commodities saw mixed movements: Copper January futures down 1.35%, Crude February futures up 1.07%, and Natural Gas February futures down 2.10%.
• Kedia Commodity's Ajay Kedia provided trading calls for Gold, Silver, and Crude Oil with specific buy levels, stop-losses, and targets.

Why It Matters: Gold and silver prices surged significantly on MCX, driven by global factors and strong demand.