MCX gold futures gain for fifth straight day to ₹1.24 lakh/10 grams; Silver also surges on Nov 11

Similarly, yellow metal contracts for the February 2026 expiry were trading ₹884 or 0.71% higher at ₹1,26,249 per 10 grams, at around 11:37 am.

Globally, Comex safe-haven contracts (for December) gained 0.50% to trade at $4,142.70 per ounce.

The US Senate passed a funding bill to end the longest-running government shutdown in history. The agreement would fund the government until the end of January.

Investors are also on the lookout for key inflation data, including Consumer Price Index (CPI) and Core CPI in the US, and CPI and WPI inflation data in India.

Market experts said traders increased bets for an interest rate cut by the US Federal Reserve after weak private jobs data and the University of Michigan's consumer sentiment index fell to its lowest level in nearly three and a half years.

Market participants remain divided on whether the US Federal Reserve will cut interest rates in December, with traders pricing in roughly a 67% chance of a quarter-point reduction, according to a PTI report, which quoted Jigar Trivedi, Senior Research Analyst at Reliance Securities.

"The economic and policy uncertainty in the world's largest economy continues to act as a tailwind for precious metals. In the week ahead, we expect gold and silver to likely consolidate in a broader range with a positive bias," PTI said, citing Saumil Gandhi of HDFC Securities.

On the MCX, silver futures for the December expiry advanced ₹1,560 or 1.02% to ₹1,55,251 per kilogram.

White metal contracts for March 2026 delivery were trading at ₹1,57,948 per kilogram, up by ₹1,700 or 1.09%.

In the international market, Comex silver was at $50.72 per troy ounce, marking a 0.81% rise on Tuesday.