Gold, Silver Slip as Stronger Dollar Weighs on Precious Metals
Stronger US dollar and upbeat labour data pressure bullion; investors await inflation cues
US, Feb 12 : Gold and silver prices edged lower on Thursday as a firmer US dollar dampened investor appetite for precious metals. The greenback strengthened after robust US jobs data pointed to underlying economic resilience, making dollar-denominated bullion costlier for overseas buyers.
On the Multi Commodity Exchange (MCX), gold futures for April delivery slipped 0.24 per cent to Rs 1,58,371 per 10 grams during intra day trade. Silver futures for March delivery fell 0.72 per cent to Rs 2,61,124 per kilogram.
The dollar index climbed to 96.94 from 96.83 in the previous session, supported by unexpectedly strong employment figures. Analysts noted that January saw accelerated job growth and a drop in the unemployment rate to 4.3 per cent indicators that may allow the US Federal Reserve to keep interest rates steady while monitoring inflation trends.
Manav Modi, commodities analyst at Motilal Oswal Financial Services, cautioned that the sharp rise in payrolls could overstate labour market strength. Revised data showed the economy added 1,81,000 jobs in 2025, significantly lower than the earlier estimate of 5,84,000.
In global markets, bullion had previously gained on geopolitical tensions after US President Donald Trump said no definitive agreement had been reached with Iran following talks with Israeli Prime Minister Benjamin Netanyahu, though negotiations are expected to continue.
Market experts identified technical support for gold at Rs 1,56,000 and resistance near Rs 1,60,500. COMEX gold is currently trading within the $5,000–$5,150 range after retreating from record highs, with the broader trend still seen as positive despite the recent correction.
Silver remains in the $80–$87 band following a steep pullback from peaks above $121. Analysts maintain that the medium to long-term outlook is favourable due to supply constraints and consistent industrial demand, although price swings are likely to persist.
Investors are now closely watching upcoming US inflation figures and UK GDP data for clearer direction on global monetary policy.
