On MCX, February gold futures ended 0.2% higher at ₹40,355 per 10 gram on Friday, recovering from intra-day lows of ₹39,951. In global markets, gold capped a strong week as fears about the coronavirus prompted a flight into safe-haven assets. Gold rose 1% for the week, ending at $1,571 per ounce. Gold is highly sensitive to any reduction in interest rates, which decreases the opportunity cost of holding non-yielding bullion. Indicative of the investment demand for gold, holdings of the world's largest gold-backed exchange-traded fund, SPDR Gold Trust, rose 0.2% to 900.58 tonnes on Thursday.

Source: Mint January 26, 2020 09:00 UTC