Gold jumps, silver rises after weak US jobs, Fed hopes
Business
Gold prices jumped worldwide on Thursday, mainly because weak US jobs data and hopes for a friendlier Federal Reserve policy got investors interested.
COMEX gold futures touched just above $4,557 per ounce before trading at $4,540.90 (16:25 GMT), up 2.86% over the past 24 hours.
Silver wasn't left behind either: it climbed 3.49% to $67.74 per ounce.
Indian MCX gold futures hit ₹155,793
Indian gold prices followed the global trend, with MCX October futures rising 2.23% to ₹155,793 per 10gm by late evening.
Silver also moved up to ₹241,686 per kilogram.
Experts say if gold breaks past ₹1.60 lakh per 10gm and trading stays strong, we could see it head toward ₹1.65 to ₹1.70 lakh soon, especially with the rupee weakening and all eyes on the Fed's next move amid ongoing global tensions.