Gold gains Rs 171 to Rs 1,12,800/10 g; silver retreat from record high in futures trade

New Delhi: Gold prices climbed Rs 171 to Rs 1,12,800 per 10 grams in the domestic futures market on Friday despite a largely flat trend in the overseas market, while silver pulled back from its record peak and declined Rs 400 to Rs 1,36,656 per kilogram.

On the Multi Commodity Exchange (MCX), gold for October delivery rose Rs 171 or 0.15 per cent to Rs 1,12,800 per 10 grams in a turnover of 2,834 lots. Similarly, the December contract traded higher by Rs 56 or 0.05 per cent at Rs 1,13,927 per 10 grams in 13,573 lots.

In contrast, silver eased after scaling fresh records in the previous session.

The December contract fell Rs 400 or 0.29 per cent to Rs 1,36,656 per kilogram in 17,462 lots. The white metal had touched a record high of Rs 1,37,530 per kg on Thursday.

The March 2026 contract also slipped Rs 351 or 0.25 per cent to Rs 1,38,051 per kg in 2,216 lots after hitting an all-time high of Rs 1,38,847 per kg in the previous session.

Globally, gold futures for December delivery rose 0.15 per cent to USD 3,776.90 per ounce, while silver futures were trading 0.21 per cent lower at USD 45.02 per ounce. On Thursday, silver had climbed to hover near a 14-year high of USD 45.50 per ounce.

Commodities market experts said upbeat US macroeconomic data released on Thursday fuelled uncertainty over the pace of interest rate cuts by the Federal Reserve, helping the dollar stay near a three-week high. This limited gains in the yellow metal prices.

They added that the downside for gold may remain cushioned as traders await the release of the US personal consumption expenditures (PCE) price index, the Fed's preferred inflation gauge, for policy cues and near-term direction for bullion prices. The data will confirm whether the US Federal Reserve (Fed) will remain on track for two rate cuts this year.

They said that "renewed concerns over the economic fallout from US President Donald Trump's fresh tariffs on a wide range of imports, along with rising geopolitical tensions, are likely to keep safe-haven demand intact." "Persistent geopolitical risks and festive demand in Asia could lend support to gold at lower levels," an expert said.