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Profit booking pulls gold lower, geopolitics still offer support
07-Jan-26   15:11 Hrs IST

Gold prices slipped to around $4450 per ounce in Asia trade as a stronger US dollar and profit-taking weighed on the metal. Market attention is now firmly on key US data releases, including ISM Services PMI, JOLTs job openings, weekly jobless claims and the December jobs report, which could shape Fed rate expectations. Earlier ISM manufacturing data showed the sharpest contraction since 2024, keeping growth concerns alive. Meanwhile, geopolitical risks continued to underpin sentiment after the US capture of Venezuelan President Nicol's Maduro, renewed tensions involving Greenland, and rising friction between China and Japan. On the domestic front, MCX February gold futures traded 0.6% lower at ₹138300 per 10 grams, tracking weakness in global prices.

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