Bullion futures rebound as US data lifts sentiment

Gold and silver prices rose sharply in futures trade, tracking strong global trends, as renewed geopolitical tensions in Venezuela and expectations around key US macroeconomic data boosted investor sentiment.

Gold futures for February delivery climbed by Rs 1,509, or 1.11 per cent, to Rs 1,37,270 per 10 grams in a business turnover of 15,226 lots.

The yellow metal had retreated in the past week, declining by Rs 4,112, or 2.94 per cent, after hitting record highs in late December. Similarly, silver futures witnessed robust gains on the MCX.