Gold and silver prices at MCX showed high volatility ahead of U.S. GDP data. U.S. Fed member Kashkari s hawkish statements led to a surge in the dollar index and U.S. bond yields.
In the US, spot gold rose 1% to $2,324.94 per ounce by 2:00 p.m. ET (1800 GMT). U.S. gold futures for June delivery settled 0.9% higher at $2,331.2 per ounce.
Gold June futures contracts on Thursday fell Rs 352 or 0.05% to open at Rs 70,700, while Silver May contracts opened at Rs 80,046, 0.56% or Rs 451 lower.
India Business News: Gold prices on the Multi Commodity Exchange (MCX) experienced an uptick, climbing by Rs 102 or 0.14% to reach Rs 72,785 per 10 grams. Similarly, silver prices saw an increase, with MCX May silver contracts rising by Rs 112 or 0.13% to Rs 83,385 per kilogram. These price movements occurred on Friday amidst growing concerns over geopolitical tensions.