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Precious Metals Preview: COMEX gold and silver futures tumble sharply from record high levels
30-Jan-2026 08:44

Precious metals tumbled from their record high levels as investors are seemingly booking profits after the sharp rally witnessed in recent times. COMEX gold is down nearly 2% at $5255 an ounce whereas silver futures plunged close to 3% at $110.96. Strength in dollar index above 96 mark has also contributed to the decline in the metals. Nevertheless, ongoing geopolitical uncertainties and fading confidence in US assets are likely to keep safe haven metals supported. Moreover, US President Donald Trump plans to announce his choice to replace Fed Chair Jerome Powell on Friday morning, will be keenly awaited. On the MCX, gold futures ended yesterday above Rs 185000 per 10 grams.

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