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Below the Quote on Market Movement 09th January 2026 by Deveya Gaglani, Senior Research Analyst-Commodities, Axis Securities Ltd

Comex Gold traded with heightened volatility in the previous session after Bloomberg Commodity Index rebalancing news unsettled the bullion market. Spot prices plunged to the $4,407 level. However, renewed geopolitical tensions provided support at the lower levels, allowing prices to recover and settle nearly flat around $4,471. Looking ahead, today’s U.S. Non-Farm Payroll data could trigger further volatility, particularly keeping prices sensitive near the lower range.  We expect Gold prices to trade on a positive for this month. In MCX, short term support zone is placed around the 134000 level. Breakdown below the mentioned level may drag prices lower towards 130,0000 level. 

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