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Informist, Friday, Jan. 9, 2026

 

By Reshma Ravi

 

MUMBAI – Spot gold prices opened higher Friday as futures rose amid lingering geopolitical tensions. Growing expectations of a rate cut by the US Federal Reserve this year also supported prices. Market participants now await the US non-farm payrolls data, due later in the day, for further cues on the Fed's interest rate trajectory. 

 

Spot gold of 99.9% purity was traded in the Mumbai market at INR 137,195 per 10 grams, up from INR 135,443 per 10 grams Thursday, said Kumar Jain, spokesperson at the India Bullion and Jewellers Association. "Some discount is prevailing on spot gold today (Friday) around INR 1,000 per 10 grams," the jeweller said. 

 

Prevailing geopolitical tensions are causing gold prices to go up, traders said. A possible US takeover of Greenland looms large after US President Donald Trump and some of his top aides renewed their demands for control of the island, Dow Jones reported. Overnight into Friday, Russia launched a large attack on Ukraine with missiles and drones, Al Jazeera reported, citing the Associated Press news agency. Tymur Tkachenko, head of the Kyiv city military administration, said several districts of the capital were hit.

 

"Investors, currently expecting at least two Federal Reserve rate cuts this year, are looking to the non-farm payrolls data for monetary policy cues," SMC Global Securities said in a report. Typically, gold performs well in a low-interest rate environment due to its non-interest-yielding nature.

 

The non-farm payrolls data is expected to show that employers added 60,000 workers in December, according to the median of estimates by economists polled by Reuters. The unemployment rate is expected to decline to 4.5% in December, after an unexpected increase to a four-year high of 4.6% in November.  End

 

Edited by Tanima Banerjee

 

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