Gold, Silver Rise for Second Day on Soft Dollar, Yields; Key Levels to Watch

Gold and silver prices rose for a second consecutive session on the Multi Commodity Exchange (MCX) on Thursday, driven by a softer US dollar and easing bond yields, with gold gaining Rs 2,300 per 10 grams and silver Rs 3,300 per kg over two days. Investors are now awaiting US nonfarm payrolls data due Friday for clues on the Federal Reserve's policy path, with markets pricing a 62% probability of a rate hike this month. Geopolitical tensions, including recent US-Iran exchanges, also supported prices. Spot gold was steady at $4,386.28 per ounce, while MCX gold October futures traded at Rs 1,53,995 per 10 grams. Analysts see Rs 1,53,000 as intraday resistance and Rs 1,52,000 as key support, with physical gold prices in Delhi, Mumbai, Chennai, and Hyderabad ranging from Rs 1,11,472 to Rs 1,21,728 per 8 grams.