Gold prices climbed by ₹ 791 to ₹ 1,21,313 per 10 grams in the futures trade on Thursday, supported by firm global cues and a weak dollar.
On the Multi Commodity Exchange (MCX), gold futures for December delivery appreciated by ₹ 791, or 0.66 %, to ₹ 1,21,313 per 10 grams from the previous close of ₹ 1,20,522 per 10 grams.
The February 2026 contract appreciated by ₹ 909, or 0.75 %, to ₹ 1,22,747 per 10 grams. It had settled at ₹ 1,21,838 per 10 grams on Wednesday.
Silver futures moved in tandem, with the December contract rallying by ₹ 1,251, or 0.85 %, to ₹ 1,48,572 per kilogram against the previous close of ₹ 1,47,321 per kg.
The March 2026 contract bounced by ₹ 1,578, or 1.06 %, to ₹ 1,50,677 per kg as compared with Wednesday's closing of ₹ 1,49,099 per kilogram on the commodities bourse.
The commodities exchange remained closed in the morning session on Wednesday on account of Guru Nanak Dev Jayanti but resumed trading in the evening session.
The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.29 % to 99.91, making bullion more attractive for investors of other currencies.
In the international markets, Comex gold futures advanced by 1 % to $ 4,024.37 per ounce, reclaiming the $ 4,000 level, while silver futures rose by $ 1.20 % to $ 48.60 an ounce.
"Gold prices rose to $ 4,024 per ounce as investors weighed US jobs data and interest rate outlook. Persistent risk-off sentiment and inflation concerns may support prices, though firm economic data may limit upside," brokerage firm Kotak Securities said.
Jigar Trivedi, Senior Research Analyst at Reliance Securities, said, "The private payrolls and ISM Services PMI have reinforced expectations that there is little room for additional rate cuts, with inflation still above target and the government shutdown delaying key labour data".
This comes against the backdrop of a hawkish tone from several Fed officials, aligning with Chair Jerome Powell's recent remarks suggesting that the latest rate cut could be the last for this year, Trivedi said.
According to commodities market experts, investors are likely to remain cautious ahead of speeches from several Federal Reserve officials, including John Williams and Michael S Barr later in the day.
"The commentary will provide more impetus on the central bank's monetary policy path and could influence the near-term trajectory for bullion prices," an expert said.
