Gold and silver futures rose on Thursday following a steep decline in earlier sessions, supported by value buying, easing global tensions, and improved risk sentiment.

On the Multi Commodity Exchange (MCX), December gold futures gained Rs 1,800 (1.48%) to Rs 1,23,657 per 10 grams, with a turnover of 13,158 lots.

Silver futures also recovered, rising Rs 2,727 (1.87%) to Rs 1,48,285 per kilogram, in a turnover of 20,868 lots.