Overview
- Spot gold traded around $4,140 per ounce after touching $4,148, with silver near $51, marking the strongest levels since late October.
- Traders put the probability of a December Federal Reserve rate cut near the mid‑60% range on CME FedWatch following weak U.S. jobs and consumer‑sentiment readings.
- The U.S. Senate passed a funding deal to end the 40‑day government shutdown, a step expected to restore delayed data releases and reduce a key market overhang.
- Indian prices tracked the global move, with MCX futures around Rs 1.23–1.26 lakh per 10g and city spot rates near Rs 1.24 lakh, while Pakistan’s tola price hit roughly Rs 430,000.
- Analysts cite sustained central‑bank buying and ETF inflows as support, but they flag near‑term consolidation ahead of U.S. CPI and China data; JPMorgan Private projects prices above $5,000 by end‑2026.