On Thursday, gold and silver are trading on the higher side of the Multi Commodity Exchange (MCX). Witnessing a hike of Rs 45 or 0.09 per cent, gold futures, maturing on February 4, 2022, are trading at Rs 48,035 per 10 grams on the MCX.

Meanwhile, silver futures maturing on March 4, 2022, are retailing at Rs 61,640 per kg, recording a hike of Rs 57 or 0.09 per cent on December 9, 2021.

Gold and silver prices in the international market:

As per the report by Reuters, gold prices were flat on Thursday, as the U.S. dollar and Treasury yields firmed ahead of key inflation data that could provide clues on the Federal Reserve’s next policy move.

On the other hand, spot gold was flat at $1,782.65 per ounce, as of 0236 GMT. U.S. gold futures fell 0.1 per cent to $1,784.50. Benchmark 10-year Treasury yields were hovering close to their highest level since November 29, scaled on Wednesday.

The dollar index strengthened 0.1 per cent, further weighing on bullion by raising its cost to buyers holding other currencies.

The U.S. Consumer Price Index (CPI) report is due on Friday, and economists in a Reuters poll forecast November CPI at 0.7 per cent.

U.S. job openings surged in October while hiring decreased, suggesting a worsening worker shortage, which could hamper employment growth and the overall economy.

Meanwhile, spot silver fell 0.2 per cent to $22.34 an ounce. Platinum dropped 0.2 per cent to $954.51, while palladium rose 0.4 per cent to $1,862.90.

Gold and Silver prices in major Indian cities: