Gold and silver prices remain in focus as the precious metals market continues to witness sharp movements across domestic and international trading platforms. While physical gold prices climbed strongly in Delhi on Friday, September 4, the futures market moved in the opposite direction as traders booked profits after two consecutive sessions of gains.

In Delhi’s bullion market, gold of 99.9% purity surged by ₹1,400 per 10 grams, taking the price close to record levels. Silver, meanwhile, remained unchanged at ₹2,40,500 per kilogram.

The trend on the Multi Commodity Exchange (MCX) was different. Gold futures ended lower on Friday as profit-taking emerged following the recent rally.

Since Saturday, September 5, is a non-trading day for regular MCX contracts, Friday’s closing levels will remain an important reference for buyers and investors over the weekend. Fresh price movements are expected when trading resumes on Monday.

Gold Price in Delhi Rises ₹1,400

Gold extended its gains in Delhi’s bullion market on Friday, supported by demand in the physical market.

The price of 99.9% pure gold climbed to ₹1,60,900 per 10 grams, compared with the previous level of ₹1,59,500. This represents an increase of ₹1,400 in a single session and puts the precious metal close to its recent record levels.

Silver, however, did not follow gold higher. The white metal remained steady at ₹2,40,500 per kilogram.

The contrasting movement indicates that demand conditions and market-specific factors continue to influence the two precious metals differently.

Gold and Silver Prices at a Glance

The key bullion and futures levels from Friday were:

These prices serve as broad market references. Retail jewellery rates can vary because of purity, making charges, taxes and differences between individual sellers and locations.

MCX Gold Falls After Two Days of Gains

While physical gold strengthened, the futures market witnessed some selling pressure.

October-delivery gold futures on MCX declined by ₹431 to ₹1,55,344 per 10 grams. In percentage terms, the contract slipped approximately 0.28%.

The decline came after two sessions of gains, with traders locking in some of the profits generated during the recent rise.

Profit booking is common after a sharp rally, particularly when investors are waiting for major global economic data that could influence the next direction of the market.

The difference between physical-market and futures-market movements is also worth noting. Spot prices can be influenced by local demand and supply, while futures contracts react quickly to global markets, currencies, interest-rate expectations and investor positioning.

US Jobs Data in Focus for Gold Investors

Global investors are closely monitoring economic signals from the United States, particularly employment data.

Non-Farm Payrolls (NFP) numbers are considered an important indicator of the strength of the US labour market. They can also influence expectations surrounding the Federal Reserve’s future interest-rate decisions.

Interest rates are particularly important for gold because the precious metal does not generate regular interest income. When expectations for lower interest rates increase, gold can become relatively more attractive to some investors.

At the same time, movements in the US dollar can influence international bullion prices. A weaker dollar can make dollar-denominated gold less expensive for buyers using other currencies, while a stronger dollar can have the opposite effect.

COMEX Gold Trades With Mild Weakness

Gold also showed some weakness in the international futures market.

December-delivery gold on New York’s COMEX was around $4,528.54 per ounce as traders remained cautious ahead of important US economic signals.

The global market's next direction could depend on how incoming economic data changes expectations for the Federal Reserve's monetary policy.

Apart from US interest rates, geopolitical developments, central-bank demand, inflation expectations and movements in the dollar can also influence international gold prices.

Why MCX Is Closed on Saturday

Regular MCX trading is not conducted on Saturdays and Sundays. As a result, Friday's closing prices remain the main domestic futures-market reference during the weekend.

Investors will have to wait until Monday for the next regular trading session and fresh domestic futures prices.

International developments occurring over the weekend can still influence sentiment. When the domestic market reopens, traders may react to changes in global bullion prices, currencies and broader financial-market conditions.

What Could Move Gold Prices Next?

Gold has experienced considerable price movement, making both domestic and international signals important for buyers.

When trading resumes, investors are likely to watch the US dollar, global gold prices, expectations surrounding Federal Reserve interest rates and demand in India's physical bullion market.

For jewellery buyers, the final price at a retail store can differ from headline bullion rates because making charges, applicable taxes, purity and local premiums may be added to the underlying gold value.

Gold Price Today: Key Numbers to Remember

Delhi's 99.9% pure gold price stood at ₹1,60,900 per 10 grams after gaining ₹1,400, while silver remained at ₹2,40,500 per kilogram.

In futures trading, MCX October gold closed ₹431 lower at ₹1,55,344 per 10 grams, reflecting profit-taking after the recent rally. Internationally, December gold on COMEX was around $4,528.54 per ounce.

With MCX closed for the weekend, attention will now turn to Monday's reopening. Domestic demand, international bullion prices, the dollar and expectations around US monetary policy could determine whether gold extends its recent strength or sees another round of profit booking.

Buyers and investors should therefore compare current market rates and consider broader market conditions before making major gold or silver transactions.