Overview

• Gold briefly set a new peak near $3,707 before easing, with spot prices lately around $3,647–$3,651 an ounce as traders reassessed the Fed outlook and the dollar firmed.
• MCX October futures rose Rs 572 to Rs 1,09,624 per 10 grams, and Delhi’s spot market rebounded Rs 800 to Rs 1,14,000 per 10 grams on value buying and safe-haven interest.
• The Federal Reserve cut rates 25 bps to 4.00–4.25%, with Chair Jerome Powell calling it a risk‑management move and signaling a meeting‑by‑meeting path; projections pointed to two additional cuts in 2025.
• Analysts cited profit‑taking, geopolitical tensions and US‑China trade frictions, steady central‑bank purchases, and ETF inflows as the key forces behind sharp intraday moves.
• Silver advanced alongside gold, with India Bullion Association prices near Rs 1,27,070/kg and Delhi quotes at Rs 1,32,000/kg, while Pakistan’s bullion rates eased in step with global cues.