Overview
- Global spot gold slid to the mid-$4,400s and finished the week about 3% lower after Friday’s U.S. jobs report showed 162,000 payrolls created, a result that raised rate‑hike expectations and sent the dollar and yields up.
- Prices moved sharply during the week with an early September selloff, a midweek rebound on softer U.S. cues, and a renewed drop after the payrolls surprise left an intraday low near $4,365 per ounce.
- India’s domestic 24K benchmark settled around Rs 1.54–1.56 lakh per 10 grams over Sept. 4–6 while Delhi retail quotes briefly touched near Rs 1.61 lakh and Pakistan reported a Rs3,900/tola jump to Rs469,136.
- Market participants report institutional ‘buy‑the‑dip’ accumulation by large asset managers even as higher yields and a stronger dollar squeeze short‑term demand for non‑yielding bullion.
- Silver has corrected sharply from January peaks and dealer inventories are a worry, and traders say the next moves for gold will hinge on upcoming inflation readings, Treasury yields and renewed Fed guidance.