MCX gold February futures rose 5.99 per cent to Rs 1,75,885 per 10 grams around 10.45 am. Meanwhile, MCX silver March futures rose 4.24 per cent to Rs 4,01,699 per kg. The strong rally of precious metals came following a firm US Federal Reserve policy stance that kept interest rates unchanged on Wednesday. US gold futures April contracts rose $300 to cross $5,588.71 an ounce, after registering a fresh all-time high of $5,626 earlier. Analysts said that signs of slowing global growth, elevated US debt levels, and a structural weakness in the US dollar place precious metals in a positive outlook for the medium to long term.