Gold prices climb as weaker dollar and falling oil boost metal markets

Spot gold rose about 1.1% to roughly $4,120 per ounce on Thursday, while silver jumped nearly 2.8% to $59.95 per ounce. The gains followed a retreat in oil prices, a dip in U.S. Treasury yields and a weaker U.S. dollar after the Federal Reserve’s meeting minutes. The 10‑year Treasury yield fell to around 4.53% and the DXY index slipped below 101, giving precious metals breathing room ahead of next week’s CPI data.

In India, the Indian Bullion and Jewellers Association reported 24‑carat gold trading at about ₹1.44‑1.45 lakh per 10 grams, with spot gold quoted at $4,106 per ounce. Prices varied across cities such as Delhi, Mumbai and Chennai, while silver and lower‑carat gold rates were also listed.

The combined move reflects how lower oil‑related inflation pressures and a softer dollar are supporting global gold demand, even as regional markets adjust to local pricing dynamics.