Gold, silver futures rise ahead of US inflation data

Spot gold gains 0.8% to $4,961.22 per ounce.

Gold and silver futures advanced on Friday as investors awaited US inflation data later in the day, following strong employment figures that dampened expectations of interest rate cuts.

April gold futures rose 0.5%, or $25, to $4,973.40 per ounce.

Spot gold gained 0.8% to $4,961.22 per ounce, while spot silver climbed 1.65% to $76.52 per ounce.

The US dollar index — which tracks the greenback against a basket of six major currencies — edged up 0.1% to 97.05 at 09:08 a.m. Mecca time.

March silver futures rose 0.6% to $76.15 per ounce. Spot platinum added 0.9% to $2,023.75, while palladium jumped 2.4% to $1,661.26 per ounce.