Gold futures traded within a narrow range on Thursday, influenced by robust US economic data and statements from Federal Reserve officials that tempered hopes of additional rate cuts, thus capping gains in the precious metal.

Data from the Multi Commodity Exchange (MCX) showed that gold futures for December delivery inched up by Rs 59 to Rs 1,20,581 per 10 grams. Silver futures also witnessed a slight rise of Rs 103, bringing prices to Rs 1,47,424 per kilogram.

Globally, Comex gold futures for December delivery edged higher to USD 3,994.55 per ounce. Analysts, such as Jigar Trivedi from Reliance Securities, noted that recent macroeconomic indicators suggest a firm economic outlook, with private payrolls surging and the ISM Services PMI at an eight-month high. Despite the hawkish Fed stan

See Full Page