Gold hovers near Rs 1.55 lakh after early losses; is it the right time to invest?

• Gold prices steady as investors buy on dips after US jobs data
• US jobs growth reduces urgency for Fed rate cuts
• Focus shifts to upcoming US CPI data for gold's next move

Did our AI summary help?

Gold prices remain steady as investors step in to buy on dips following U.S. jobs data and heightened uncertainty over the Federal Reserve’s interest rate outlook.

The metal took a sharp fall on Comex during the early trade on February 13, declining from $5,089 to $4,911, but recovered to trade at $5,006 per ounce, representing a gain of around 1.18 per cent from its previous close.

The domestic price of metal on the MCX opened the Friday session at Rs 1,54,579 per 10 grams of 24-carat purity, up 1.14 percent from its previous close.

The metal closed the Thursday session in red at Rs 1,52,300 per 10 grams, representing a decline of 4.07 percent from its previous close.

Meanwhile, the International Bullion and Jewellers Association pegged the standard price of gold at Rs 1,55,650 for 10 grams of 24-carat purity on its 18:30 pm rate session, which is 1.06 per cent down from Rs 1,57,322 in the last 24 hours.

Rupee traded slightly stronger at 90.57, gaining 0.08 paise or 0.09 percent, as the dollar index remained flat near 96.82. Analyst says that despite higher-than-expected US Non-Farm Payrolls data, the dollar failed to gain traction, which supported the rupee’s mild recovery.

Gold prices vary by purity. Check the prices of gold based on its purity:

City-wise gold prices in India today

Gold rates across India’s major cities showed remarkable uniformity, with only marginal differences due to local taxes, jeweller margins, and logistics costs.

Why is gold price down? Should you invest?

“Gold traded lower on CME after stronger-than-expected US Non-Farm Payrolls kept pressure on bullion since yesterday evening, as higher jobs data reduces immediate urgency for aggressive rate cuts. MCX Gold mirrored the weakness.

"Technically, CME Gold has support around $5,025, while resistance is placed at $5,090–$5,110. On MCX, key support is seen near Rs 1,56,000, with resistance around Rs 1,60,000. All eyes are now on US CPI data due Friday evening, which could set the next directional move in gold," said Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities

The US job growth unexpectedly accelerated in January, and the unemployment rate fell to 4.3 per cent.

"These are signs of labour market stability that could give the Fed room to keep interest rates unchanged for some time while policymakers monitor inflation. But the largest increase in payrolls in 13 months likely exaggerates the labour market's health, as revisions showed the economy added only 181,000 jobs in 2025, down from the previously estimated 584,000. Market participants are a bit sceptical about yesterday’s jobs data as it was once again a delayed number amidst a brief shutdown in late January, keeping the dollar index firm around 97," said Manav Modi, Commodities Analyst, Motilal Oswal Financial Services.

US treasuries were hit the hardest, with 2-year bond yields rising to 3.5 percent. According to market expectations, the Fed could keep rates unchanged through Chair Jerome Powell's term, which ends in May, but cut immediately afterwards in June, suggesting that policy under his likely successor, Kevin Warsh, could become too loose. Focus will be on UK GDP, US weekly jobless claims and CPI on the domestic front.

After talks with Israeli Prime Minister Netanyahu, President Trump said they reached no "definitive" agreement on how to move forward with Iran but, he insisted negotiations with Tehran would continue to see if a deal can be achieved without any escalation further.