Gold and silver prices were trading lower in Friday's session, as stronger-than-expected US jobs data reinforced expectations that the Federal Reserve could raise interest rates at its policy meeting next month.
On the Multi Commodity Exchange (MCX), the December gold futures contract was down ₹1,700 per 10 grams to ₹1,42,930 at the time of writing. The decline came after the yellow metal extended its gains for a second consecutive session, putting it on track to snap a three-week losing streak. Gold has gained nearly ₹4,000 so far this week.
Similarly, silver futures were down 1.26% at ₹1,84,800 per kilogram. Despite the decline, the white metal remained on track for its first weekly gain in five weeks. Silver had surged by more than ₹5,700 this week, although it remains down around ₹50,000 so far in 2026.
The US Labor Department reported on Friday that American employers added 165,000 jobs in October, more than double economists' expectations of 65,000. The figure was also significantly higher than the average monthly gain of 48,000 recorded over the preceding 12 months.
The stronger-than-expected employment data…