Gold rallies toward $4,400; MCX futures hit Rs 150,990

Gold climbed toward $4,400 an ounce on Friday, extending its upward momentum as investors awaited the US July jobs report for clues on labour-market strength and the Federal Reserve?s interest-rate outlook. MCX October gold futures gained 1.5% to Rs 150,990 per 10 grams. Silver futures jumped nearly 5% to $64.75 an ounce, supported by its safe-haven appeal and industrial demand amid lingering Middle East tensions. Easing concerns over the Strait of Hormuz offered some relief, while the dollar index remained largely steady near 99.95. Markets continue to weigh the possibility of a September Fed rate hike amid persistent inflationary pressures.

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