Gold Softens Amid Rate Cut Doubts, Geopolitical Ease; Where to Profit in Commodities?

• Gold prices on MCX declined by approximately 0.15% on January 16, influenced by reduced hopes for a US Fed rate cut and easing geopolitical tensions.
• MCX Gold February futures traded down by 151 rupees to 142,904 rupees per 10 grams, while Silver March futures fell by 2,808 rupees to 288,700 rupees per kilogram.
• Globally, US gold futures dropped by almost half a percent to $4,594.81, as stronger-than-expected US economic data boosted the dollar.
• Other commodities saw mixed trends: copper and crude oil contracts were down, while natural gas contracts showed an increase.
• Amit Khare of GANGANAGAR COMMODITY recommends buying MCX Gold Mini February and MCX Zinc January contracts for potential profits.

Why It Matters: Gold prices are falling due to diminished rate cut hopes and easing tensions, but specific commodity trades offer profit.