Overview

• Spot and futures prices stayed elevated in the mid-$3,600s to $3,690s per ounce, leaving bullion within striking distance of this week’s all‑time high near $3,707.
• The Federal Reserve lowered rates by 25 basis points to 4.00–4.25% and stressed a meeting‑by‑meeting approach, prompting a firmer dollar and brief profit‑taking before buyers returned.
• In India, MCX October futures rebounded to Rs 1,09,624 per 10 grams and Delhi retail quotes jumped by Rs 800 to Rs 1,14,000 per 10 grams on safe‑haven interest and firm global cues.
• Pakistan’s bullion quotes swung with global moves, with early readings near Rs 387,500 per tola followed by a later jump to Rs 390,300, reflecting ongoing currency and market volatility.
• Analysts cite a roughly 39% year‑to‑date rally supported by expected monetary easing, geopolitical risks and sustained central‑bank and ETF demand, with near‑term trade seen range‑bound pending US data.