Overview
- An upside surprise in U.S. January payrolls (about 130,000 jobs, unemployment 4.3%) cooled near‑term Fed rate‑cut bets and pressured precious metals on Thursday.
- Silver plunged more than 10% intraday to roughly $74.58 on Thursday in a swift, flow‑driven selloff, while gold briefly fell toward $4,900 before stabilizing.
- Prices rebounded on Friday, with reports showing spot gold up around 0.6%–1.1% near $4,95x–$4,98x and spot silver higher by roughly 2%–4% around $76–$79 as markets reset ahead of CPI.
- In India, the All India Sarafa Association noted Delhi gold down Rs 400 to Rs 1,60,900 per 10g on Thursday, while Friday MCX futures rose about 0.7% for gold to ~Rs 1,53,880 and 2.3% for silver to ~Rs 2,41,900.
- In Pakistan, the All Pakistan Sarafa Gems and Jewellers Association reported gold per tola down Rs 8,600 to Rs 519,962, reflecting the global retreat before the partial bounce.