Why did gold prices rebound after the sharp fall?

Forced selling on CME margin hikes and rate worries after the Kevin Warsh nomination drove prices lower first. As key supports held, short covering and bargain buying kicked in. Stabilizing ETF flows and a softer dollar at times helped. The bounce reflects volatile, event-driven trade rather than a firm trend change.

How do global moves affect MCX gold price in India?

MCX tracks international prices adjusted for USD/INR and import duties. A stronger dollar or weaker rupee can lift domestic prices even if global quotes are flat. Local demand, festival season, and liquidity conditions also influence premiums or discounts, affecting intraday spreads and opening gaps on MCX.

What are the key gold levels analysts are watching now?

Many desks highlight resistance near $5,000 and potential supports around $4,390–$4,290. These are global reference zones. Indian traders map them to MCX using currency and duty assumptions. Price action around prior day highs and lows, plus major moving averages, will guide short-term strategies.

What is the outlook for silver price today and near term?

Analysts see silver in a $70–$90 near-term range with fast reactions to macro headlines and industrial demand news. Liquidity can thin during stress, so manage size and use defined-risk trades. Keep an eye on the gold-silver ratio, which can swing quickly during broader risk-on or risk-off moves.

Global Market Insights

Gold Prices February 04: Rebound After Rout on Warsh, CME Hike

ByHuzaifa Zahoor February 4, 2026February 4, 2026

Gold prices bounced back on February 04 after a steep selloff linked to the Kevin Warsh nomination and CME margin hikes. The move lifted sentiment from one-month lows, though volatility stayed high. For Indian investors, MCX gold price action will continue to track the dollar, US yields, and the rupee. Silver price today also recovered with strong two-way trade. We break down drivers, key levels, and practical strategies for traders and long-term buyers in India.