Gold breaches Rs 85,000-mark on MCX, hits 2025 target early
Bullion has been on a roll this year and has beaten Street's expectation which had estimated a less sparkling rally in 2025, estimating this year's target at Rs 85,000-87,000.
Gold was trading around at around $2,906.10 on the Comex around this time, gaining by $29.40 or 1.02%.
The rally in gold comes amid the US job data which showed the world's largest economy generated fewer jobs than expected in January, but more than initially thought in December, leaving the outlook for rates more or less unchanged.
According to a Reuters report, the Labor Department said the number of workers on nonfarm payrolls rose by 143,000 in January, below expectations for a rise of 170,000 and below December's upwardly revised 307,000.
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