Gold Prices Jump ₹791 to ₹1,21,313/10g on Weak Dollar, Firm Global Cues
New Delhi: Gold prices surged by ₹791 to ₹1,21,313 per 10 grams in futures trade on Thursday, buoyed by a weaker dollar and positive global cues.
On the Multi Commodity Exchange (MCX), gold futures for December delivery rose 0.66% or ₹791 from the previous close of ₹1,20,522 per 10 grams. The February 2026 contract also gained ₹909, or 0.75%, to settle at ₹1,22,747 per 10 grams, compared to ₹1,21,838 in the previous session.
Silver mirrored the yellow metal’s momentum, with the December contract jumping ₹1,251, or 0.85%, to ₹1,48,572 per kilogram. The March 2026 contract advanced ₹1,578, or 1.06%, to ₹1,50,677 per kilogram from ₹1,49,099.
The commodities exchange had remained closed in the morning session on Wednesday due to Guru Nanak Dev Jayanti but resumed operations in the evening.
The US dollar index slipped 0.29% to 99.91, making gold cheaper for holders of other currencies and boosting demand for bullion.
In global markets, Comex gold futures climbed 1% to USD 4,024.37 per ounce, regaining the crucial USD 4,000 level, while silver rose 1.20% to USD 48.60 per ounce.
“Gold prices strengthened as investors assessed US jobs data and the interest rate outlook. Persistent risk-off sentiment and inflation concerns continue to support prices, though strong economic data may limit the upside,” said Kotak Securities.
Jigar Trivedi, Senior Research Analyst at Reliance Securities, noted that recent US economic indicators — including private payrolls and the ISM Services PMI — suggest limited room for further rate cuts, especially with inflation still above target and a government shutdown delaying key labour data.
Trivedi added that the Federal Reserve’s hawkish stance, reinforced by Chair Jerome Powell’s recent comments that the latest rate cut may be the last this year, has influenced market sentiment.
Experts said investors will closely track upcoming speeches by Fed officials John Williams and Michael S. Barr, which could provide further clarity on the central bank’s monetary policy direction and shape the near-term trajectory for bullion prices.
