Gold & Silver Climb Awaiting US Inflation Data

New Delhi, Dec 5 (PTI) Gold prices climbed to Rs 1,30,829 per 10 grams while silver futures advanced by Rs 1,82,426 per kilogram on Friday following firm global trends, as investors are awaiting key US inflation data that could offer fresh signals on the Federal Reserve's interest rate outlook.

On the Multi Commodity Exchange (MCX), gold futures for February delivery appreciated by Rs 751, or 0.58 per cent, to Rs 1,30,829 per 10 grams in a business turnover of 13,154 lots. The yellow metal had settled at Rs 1,30,078 per 10 grams on Thursday.

Silver futures for the March 2026 contract surged by Rs 4,288, or 2.41 per cent, to Rs 1,82,426 per kilogram in 14,384 lots. It had closed at Rs 1,78,138 per kilogram in the previous market session.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.13 per cent lower at 98.87, lending support to bullion prices in the international markets.

Globally, Comex gold futures for February delivery gained by USD 17.45, or 0.41 per cent, to USD 4,260.45 per ounce, while silver for the March 2026 contract was trading 2.25 per cent higher at USD 58.78 per ounce.

"Gold is trading above USD 4,205 as investors are awaiting US inflation data for clearer signals on the Federal Reserve's December policy stance next week," brokerage firm Kotak Securities said in a market note.

Rahul Kalantri, VP - Commodities at Mehta Equities Ltd, said gold firmed while silver witnessed mild profit-booking on Thursday following positive US jobless claims data.

He noted that silver saw a routine pullback from short-term futures traders within a broader uptrend, ahead of the release of the Personal Consumption Expenditures (PCE) inflation data, which could shape expectations for monetary policy easing.

"Meanwhile, weak labour market indicators, including a sharper than expected drop in ADP payrolls and elevated layoffs, have increased the likelihood of a rate cut at the upcoming Federal Open Market Committee (FOMC) meeting, with market odds now nearing 87 per cent," Kalantri added.