Declining for the third straight session, Gold futures fell Rs 1,207 to Rs 1.38 lakh per 10 grams on Thursday, as stronger-than-expected US inflation data reinforced expectations of further policy tightening by the Federal Reserve. On the Multi Commodity Exchange, yellow metal contracts for December delivery traded lower by Rs 1,207, or 0.86 per cent, at Rs 1,38,509 per 10 grams.
“MCX gold futures are facing renewed pressure as stronger-than-expected US inflation data has strengthened expectations of further Federal Reserve tightening,” said Vikram Subburaj, CEO at Giottus.com.
A stronger dollar and rising US Treasury yields are further reducing the attractiveness of bullion, he added. Silver futures declined by Rs 2,376 to Rs 1.82 lakh per kg on Thursday, tracking weakness in global markets as a stronger US dollar and expectations of tighter monetary policy weighed on precious metals.
“MCX silver witnessed selling pressure; its losses remained relatively contained compared with gold,” said Gaurav Garg, Head of Research at brokerage platform Lemonn. In international markets, Comex silver futures for December delivery fell by 1.41 per cent, to $51.27 per ounce. Silver slipped to trade around $51 an ounce as the US dollar strengthened to a 19-month high of nearly 103, its highest level since April 2025, brokerage firm Axis Securities said.