Overview
- Spot gold rose about 0.3% to roughly $4,209–$4,214 per ounce, with US futures near $4,239, as investors awaited the December 9–10 policy decision.
- Pricing from CME-linked gauges put the probability of a 25 basis-point cut around 87–88% after weaker US data and a sliding dollar supported precious metals.
- In India, 24-carat spot hovered near Rs 1,30,420 per 10 grams while MCX February futures traded around Rs 1,30,400–1,30,640, with analysts noting rupee depreciation has amplified local gains and prompted some profit-taking.
- In Pakistan, 24-carat gold climbed by Rs 1,600 to about Rs 443,762 per tola and Rs 380,454 per 10 grams, according to the All-Pakistan Gems and Jewellers Sarafa Association.
- Silver traded near $58.4 per ounce after hitting a record $59.32 on Friday, and Indian spot was quoted around Rs 1,89,900 per kg as tight supply and strong industrial demand drove outperformance.