Gold futures on the MCX surged Rs 791 to Rs 1,21,313 per 10 grams on Thursday, supported by firm global cues and a weaker dollar. Silver followed suit, gaining Rs 1,251 per kg as global prices rose above USD 4,000 per ounce
The domestic equity markets rebounded with the 30-share BSE Sensex rising 117.57 points to 74,571.98 in early trade, while Nifty was up 31.3 points to 22,584.65
At the interbank forex market, the domestic unit witnessed a highly volatile trading session. It opened at 73.45, pared the gains and finally closed at 73.81 against the greenback.
Traders said most Asian currencies opened weak against the US Dollar Index, which started with gains on Wednesday morning in Asian trade ahead of the US Presidential election results.
The newly-constituted MPC of the Reserve Bank began its three-day deliberations on Wednesday. The decision of the rate-setting panel will be announced on October 9.