Gold prices rose and silver hit a new record high as markets awaited US inflation data this week, following a jobs report that showed a rise in the US unemployment rate, reinforcing expectations of an interest rate cut next year.
During Wednesday's trading, gold futures for February 2026 delivery climbed 0.8%, or $34.20, to $4,366.50 an ounce, after touching $4,373.60.
Silver futures for March 2026 delivery jumped 4.6% to $66.25 an ounce, after reaching an all-time high of $66.65.
Spot gold rose 0.6% to $4,327.98 an ounce, while spot silver gained about 3.5% to $65.99 an ounce.
The dollar index, which measures the performance of the US currency against a basket of six major currencies, rose 0.3% to 98.44 at 9:18 AM Mecca time.
Meanwhile, spot prices for platinum increased 3.45% to $1,909.12, and palladium rose 0.2% to $1,606.05.
This rise followed US data showing the unemployment rate climbed to 4.6% in November, exceeding the 4.4% forecast in a Reuters poll.
Investors are awaiting the release of US consumer price index data on Thursday, as well as the Federal Reserve's preferred inflation gauge on Friday.
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