Gold prices on Friday (January 10) climbed by ₹229 to ₹78,333 per 10 grams in futures trading. Analysts attributed the price hike to fresh buying by participants.

In global markets, gold futures fell by 0.33% to $2,676.01 per ounce in New York.

Despite this, domestic prices showed resilience due to local demand and investor interest.

Pranav Mer, Vice President, EBG – Commodity & Currency Research, JM Financial Services, noted that gold is up 1.3% this week despite a stronger U.S. dollar.

“Safe-haven buying ahead of January 20, the day Donald Trump takes office, has supported prices,” he said.

Mer added that fresh ETF investor interest and US employment data are key focus areas.

Technically, Mer sees gold’s support levels at ₹78,000 per 10 grams and ₹77,750 per 10 grams, with resistance at ₹78,500 per 10 grams and ₹78,700 per 10 grams.

Renisha Chainani, Head of Research at Augmont, highlighted safe-haven demand driven by concerns over Donald Trump’s proposed policies and economic uncertainties.

“Gold continues to benefit from market jitters and potential policy shifts,” she stated.

Gold has hit the ₹78,000 per 10 grams target and could now aim for ₹79,000 per 10 grams, aligning with $2,720 per ounce in international markets.

As the market eyes US Nonfarm Payrolls and consumer sentiment data, gold’s trend remains positive in the near term.

–With inputs from PTI