Gold Price Today, Feb. 1 -- After being one of the hottest trades in precious metals over the past two years, gold has seen a sharp reversal. Gold prices on the MCX have fallen by nearly Rs.38,000 from record highs, prompting investors to weigh whether the decline offers a buying opportunity or signals the need for greater caution.

Investor sentiment toward the gold and silver prices reversed amid concerns over a firm US dollar and the nomination of "inflation hawk" Kevin Warsh by US President Donald Trump as the next Federal Reserve chairperson.

During Friday's session, gold prices on MCX tanked nearly Rs.20,000 per 10 grams to Rs.1,49,653. And on Sunday, the prices closed at Rs.143,000, taking the fall to Rs.37,779 or nearly 21% from ...