NEW DELHI — Gold and silver prices edged lower on Thursday as gains in the U.S. dollar made dollar-denominated bullion more expensive for overseas buyers, dampening investor sentiment.
On the Multi Commodity Exchange, gold April futures slipped 0.24 percent to Rs 1,58,371 per 10 grams in intra-day trade, while silver March futures declined 0.72 percent to Rs 2,61,124 per kilogram.
The dollar index strengthened to 96.94 from 96.83 in the previous session, supported by robust U.S. jobs data that pointed to underlying economic resilience. A firmer dollar typically pressures precious metals by raising their cost for holders of other currencies.
Analysts said U.S. job growth unexpectedly picked up pace in January, while the unemployment rate fell to 4.3 percent, reinforcing expectations that the Federal Reserve may keep interest rates unchanged in the near term as it continues to assess inflation trends.
“The largest increase in payrolls in 13 months likely overstates the strength of the labour market, as revisions showed the economy added only 1,81,000 jobs in 2025, compared with the previously estimated 5,84,000,” said Manav Modi, commodities analyst at Motilal Oswal Financial Services.
Earlier, gold and silver prices in international markets had seen mild gains amid heightened geopolitical uncertainty. However, sentiment turned cautious after U.S. President Donald Trump said a “definitive” agreement was not reached on how to proceed with Iran following talks with Israeli Prime Minister Benjamin Netanyahu, though negotiations with Tehran would continue.
Technical analysts said gold has near-term support around Rs 1,56,000 per 10 grams, with resistance seen at Rs 1,60,500. In overseas markets, COMEX gold has been trading in the $5,000–$5,150 range after a sharp correction from recent highs near $5,500–$5,600.
Market participants said the broader uptrend in gold remains intact, viewing the recent pullback as profit booking rather than a sign of structural weakness.
COMEX silver is currently trading in the $80–$87 range after correcting sharply from record highs above $121. Analysts said the medium- to long-term outlook for silver remains constructive, supported by structural supply constraints and steady industrial demand, although price volatility is expected to stay elevated.
Investors are now closely watching upcoming U.S. inflation data due on Friday, along with U.K. GDP figures, for further clues on global monetary policy direction. (Source: IANS)
