Overview
- International spot gold recovered about 1.1% on October 15–16 to roughly $4,149–$4,181 per ounce after the dollar slipped and the benchmark 10‑year Treasury yield fell to a multi‑week low.
- Comments from Fed officials that an immediate rate hike may not be needed reduced near‑term tightening odds and helped push bond yields down, giving short‑term support to precious metals.
- Provisional World Gold Council data show central banks bought about 63 tonnes of gold in September, a surge that analysts say removes supply from the market and underpins a medium‑term bullish case.
- Domestic markets diverged as Indian retail 24K prices eased to about ₹14,743–₹14,744 per gram while MCX futures rose toward ₹1.48 lakh per 10 grams, and Pakistan saw local gold hit roughly Rs440,636 per tola with silver near a record Rs6,256 per tola.
- Analysts warn the rebound is fragile because further US inflation prints, Fed guidance or a stronger dollar could lift yields and reverse gains, while a sustained break above $4,210 per ounce would be needed to confirm stronger momentum.