Overview

• Global futures hit a new peak at $3,923.30 per ounce on Thursday before settling at $3,908.90 on Friday, extending an eight-week advance.
• Pakistan’s benchmark rate jumped by Rs2,100 to Rs409,878 per tola and to Rs351,404 per 10 grams, according to the national sarafa association.
• India’s MCX December contract closed at Rs1,18,113 per 10 grams, just below its lifetime high of Rs1,18,444, as IBJA spot prices notched fresh highs earlier in the week.
• Analysts flag heightened volatility this week as markets track the US funding vote, FOMC minutes and a speech by Jerome Powell, with a softer dollar and rate‑cut expectations in focus.
• Structural support includes heavy central‑bank buying (200+ mt in the first seven months of 2025) and strong ETF inflows, while silver outperforms with record prints on Comex and MCX.