Gold rate today, Jan. 29 -- Amid US Fed rate cut buzz and DeepSeek AI model fears, MCX gold rate opened upside in the early morning session on Wednesday and hit a new peak of Rs.80,413 per 10 gm. Gold futures contract on Multi Commodity Exchange (MCX) for the February 2025 expiry today opened upside at Rs.80,325 per 10 gm. It touched an intraday high of Rs.80,413 within a few minutes of the Opening Bell. Gold rate today climbed to this new peak, bettering the previous peak of Rs.80,312 per 10 gm on the MCX.

Jateen Trivedi, VP Research Analyst - Commodity & Currency at LKP Securities, said, "The US Fed meeting outcome and India's Union Budget 2025 are critical events, keeping participants cautious and focused on potential developments. Th...