Gold futures in India closed higher on Friday, gaining Rs 57 or 0.06% to settle at Rs 97,530 per 10 grams. Silver futures also saw a marginal uptick of Rs 350 or 0.31%, ending the day at Rs 1,12,684 per kilogram.

Globally, however, gold remained flat and is set to log a weekly loss, pressured by a stronger US dollar and upbeat economic data from the United States. Spot gold held steady at $3,337.60 per ounce, while US gold futures slipped 0.1% to $3,343.10. So far, bullion has dropped 0.5% this week.

Despite the dollar dipping slightly by 0.1% on Friday, it is on track for a second consecutive weekly gain, making gold costlier for investors using other currencies. Strong retail sales and lower-than-expected jobless claims in the US have reinforced confidence in the country's economic resilience.

"We are starting to see data coming in that is still supporting a rather vigilant US economy," said Kelvin Wong, senior market analyst at OANDA, adding that the market doesn’t foresee a highly dovish Federal Reserve in the near term.

Thursday’s data showed US retail sales rose 0.6% in June, while jobless claims dropped to 221,000—well below forecasts—highlighting ongoing strength in the labor market. Analysts suggest this reinforces the Fed’s cautious stance on cutting interest rates too soon.

Nevertheless, Fed Governor Christopher Waller reiterated his support for a rate cut by month-end, citing growing economic risks.

Meanwhile, platinum prices climbed to their highest since August 2014, rising 0.1% to $1,458.80 per ounce. Palladium also gained 1% to hit $1,293.32, the highest since August 2023. Silver held flat at $38.13.

As geopolitical uncertainties and trade concerns simmer in the background, precious metal investors are closely watching macroeconomic cues for further direction.

City	24K	22K
Mumbai	Rs 9,938	Rs 9,110
Delhi	Rs  9,952	Rs 9,125
Chennai	Rs  9,938	Rs 9,110
Kolkata	Rs  9,938	Rs 9,110
Bengaluru	Rs  9,938	Rs 9,938

In Mumbai, the price of 24-karat gold stood at Rs 9,938 per gram, while 22-karat gold was priced at Rs 9,938 per gram.

The national capital recorded 24K gold at Rs 9,952  per gram, with 22K gold available at Rs 9,125 per gram.

Gold rates in Chennai were slightly lower, with 24K gold at Rs 9,938 per gram and 22K gold at Rs 9,938 per gram.

In Kolkata, 24-karat gold was priced at Rs 9,938 per gram, and 22-karat gold was selling at Rs 9,938 per gram.

Bengaluru saw 24K gold trading at Rs 9,938 per gram, while 22K gold was available at Rs 9,938 per gram.

Pune saw 24K gold trading at Rs 9,938 per gram, while 22K gold was available at 9,105 per gram.