Commodity Tips | Gold futures ended with modest gains in the domestic market on Thursday as investors and speculators booked fresh positions in the Bullion as rising tensions in the Middle East prompted a flight to safe haven instruments such as the bullion.

Turkey on Tue shot down a Russian jet fighter warplane near the Syrian border, signaling worsening geopolitical tensions, at a time when universal leaders are struggling to contain the Islamic State terrorists that were responsible for the Paris massacre earlier this session.

However, the gains in the yellow metal were curbed by speculation that the US Fed may raise interest rates in December, dampening the lure for the precious metal as a store of value.

Upbeat US economic data released this week also bolstered the case for a lift-off in US interest rates for the first time in nearly a decade. US durable goods orders climbed in October, sales of new homes rebounded last month, consumer spending climbed in Oct, consumer confidence rose this month, private sector output accelerated in November and jobless claims fell previous week, signaling a pickup in the world’s biggest economy.

Gold may trade on a soft note today as traders stay cautious ahead of the US jobs data set for release next week.

At the MCX, Gold futures for December 2015 contract closed at Rs 25,281 per 10 gram, up by 0.23 per cent after opening at Rs 25,255, against the previous ending price of Rs 25,222. It touched the intra-day high of Rs 25,337.