Suganda notes that Trump's call for lower interest rates, expressed during his speech at the World Economic Forum in Davos, further fueled the gold price rally. His stance led to a sharp decline in the US dollar index to a 5-week low, providing a strong tailwind for the precious yellow metal.

MCX gold prices rise to Rs 79,725 amid speculation over the US Fed's rate decision and Trump's tariff concerns. Resistance at Rs 80,500 looms, with further gains expected if a breakout occurs.