Overview
- Spot bullion surged 1–2% to a two-week high between $4,080 and $4,105 on Monday and held near $4,140 by Tuesday, with futures also stronger.
- Senate steps toward reopening the US government and softer jobs and sentiment data boosted safe-haven demand and lifted December cut odds to about 67%, according to CME FedWatch.
- Indian benchmarks climbed, with MCX December futures rising to roughly Rs 1.23–1.25 lakh per 10 grams and city spot quotes near Rs 1.24–1.25 lakh.
- Pakistan’s domestic market tracked the global rally, lifting gold by Rs 7,400 to Rs 429,862 per tola as international spot traded around $4,090–$4,105.
- Analysts cite ongoing central-bank purchases above 600 tonnes this year and recent ETF inflows as supports, but they expect consolidation until US CPI and China data provide clearer direction.