Overview

• International gold futures settled at $3,705.80 an ounce after hitting a record $3,744 this week, while Indian prices hover around Rs 1.09–1.10 lakh per 10 grams.
• Analysts see bullion staying buoyant on rate cuts, Asian festive buying, central‑bank purchases and geopolitical risk, with traders watching upcoming US data and trade talks.
• India’s August gold imports rose to a multi‑month high and official reserves climbed to a record 880 tonnes, signaling firm wholesale and reserve demand.
• Retail demand is shifting as mid‑range jewellery purchases soften and premium segments hold up, and a GST reduction from September 22 could free up household budgets for buying.
• Silver is outperforming near $43 an ounce on robust industrial demand and tight supply, with analysts indicating potential for further gains if current drivers persist.