Gold Glitters as Dollar Dims: Futures Surge Amid Global Cues

Gold and silver prices rose significantly in futures trading, bolstered by global market trends and a weakening dollar. Investors are cautious ahead of key Federal Reserve speeches, as economic indicators suggest limited room for further rate cuts. The commodities market reflects ongoing inflation and risk-off sentiment.

Gold prices surged by Rs 791 per 10 grams in futures trade, reaching Rs 1,21,313, driven by strong global indicators and a weaker dollar. The Multi Commodity Exchange (MCX) saw December gold futures rise by 0.66%, while silver futures also soared by Rs 1,251 per kilogram.

February 2026 gold futures appreciated by Rs 909, settling at Rs 1,22,747. The commodities market, closed briefly for Guru Nanak Dev Jayanti, rebounded with robust trading sessions. The dollar index dropped by 0.29%, enhancing bullion's appeal for investors who trade in other currencies.

Internationally, Comex gold futures rose by 1% to USD 4,024.37 per ounce, surpassing the USD 4,000 mark. Market analysts anticipate cautious sentiment as Federal Reserve officials, including John Williams, are expected to speak. Their insights could shape future monetary policy and bullion price trajectories.

(With inputs from agencies.)