Gold price today: Gold rates climbed in the domestic futures market on Friday morning amid mixed global cues, with the focus centred on the RBI policy outcome and US payroll data. MCX Gold for February 5 expiry traded 0.29 per cent higher at ₹76,697 per 10 grams around 9:20 am.
RBI Governor Shaktikanta Das will announce the policy outcome at 10 am today. While there are feeble expectations of a cut in repo rates, market participants expect him to announce a 25 bps cut in CRR (cash reserve ratio) for banks. This move will inject liquidity into the system and boost the profitability of banks.
More to come…
