Gold prices jumped by ₹1,791 to ₹1.50 lakh per 10 grams in futures trade on Thursday, tracking firm global trends after the US Federal Reserve kept interest rates unchanged amid persistent geopolitical uncertainty in West Asia.
On the Multi Commodity Exchange, the yellow metal for June delivery increased by ₹1,791, or 1.2 per cent, to ₹1,50,841 per 10 grams in a business turnover of 9,207 lots.
Domestic commodity markets will remain closed for trading in the morning session on Friday on account of Maharashtra Day.
Analysts said gold prices were supported by bargain buying after recent losses and lingering uncertainty over the geopolitical uncertainty.
Gold prices have moved slightly higher, supported by dip-buying and continued geopolitical uncertainty, although elevated interest rate expectations are limiting sharp upside, Gaurav Garg, Research Analyst at Lemonn Markets Desk, said.
The broader outlook remains uncertain, as persistent high crude prices and a strong dollar continue to influence commodity trends, with expectations of moderate corrections over the medium term, he added.
In the international markets, Comex gold futures for the June contract rose $72.41, or 1.59 per cent, to $4,633.91 per ounce in New York.
Gold was hovering around $4,630 per ounce as rising energy costs fuelled inflation concerns and reinforced expectations of tighter monetary policy by global central banks, Renisha Chainani, Head of Research at Augmont, said.
Meanwhile, the US Federal Reserve kept its benchmark interest rate unchanged for the third straight meeting.
"In support of its goals, the Committee decided to maintain the target range for the federal funds rate at 3-1/2 to 3-3/4 per cent," the central bank said in a statement on Wednesday.
Rajesh Palviya, Head of Research, Axis Direct, said: "The Federal Reserve's decision to hold rates steady... reflects a central bank firmly in 'wait-and-watch' mode, as inflation remains stubbornly above its 2 per cent target despite a resilient labour market." This cautious pause signals that rate cuts are not on the immediate horizon, he added.
According to analysts, prolonged tensions in West Asia and disruption risks around the Strait of Hormuz continue to keep bullion markets volatile.
Published on April 30, 2026