Gold futures on India’s Multi Commodity Exchange (MCX) retreated slightly in early Thursday trading, while silver posted modest gains, reflecting a nuanced market response to softer US jobs data.
The divergence between the two metals suggests traders are recalibrating risk exposure following the latest labor market indicators from the United States.
MCX gold August contracts fell 0.21% to trade at ₹1,44,124 per 10 grams.
In contrast, silver August contracts climbed 0.50%, outperforming its yellow-metal counterpart.
The mixed performance comes after a session on Wednesday where both metals faced downward pressure, driven by a strengthening US dollar and rising expectations for Federal Reserve rate hikes.
The recent pullback in precious metals had seen gold break below the ₹1,41,000 per 10-gram threshold and silver decline to ₹2,21,000 per kilogram.