Overview

• US December gold futures settled at $4,004.4 after touching $4,014.6, and spot approached a record at $3,990.85, according to Reuters.
• The All Pakistan Sarafa Gems and Jewellers Association reported a Rs1,500 rise on the day to Rs416,778 per tola, with 10 grams at Rs357,319.
• Reporting cites safe-haven demand and heightened Fed cut bets during the partial US government shutdown as key drivers of the surge.
• Interactive Commodities’ Adnan Agar called the market overbought and cautioned that profit-taking could trigger a correction once sentiment shifts.
• Goldman Sachs projects prices could reach $4,900 by December 2026, while the Pakistani rupee inched to 281.22 per US dollar in inter-bank trade.