Overview
- Spot bullion vaulted to fresh highs near $3,950 per ounce in early Monday trade, with U.S. futures approaching $3,970.
- India’s MCX gold futures set new records near Rs 1.20 lakh per 10 grams, extending a multi‑session run to lifetime peaks.
- Pakistan’s APGJSA reported one tola at Rs 415,278 on Oct 6, a sharp jump from weekend levels as global prices surged.
- Traders cite the U.S. government shutdown, rising odds of Federal Reserve rate cuts, a softer dollar, and persistent official and ETF demand as the key drivers.
- Silver rallied alongside gold, with Comex prices above $48 and domestic contracts in India printing new highs.