Overview

• Spot gold hovered around $3,74x–$3,76x per ounce after peaking near $3,791 earlier in the week, with traders watching Friday’s PCE inflation print for policy cues.
• Indian benchmarks held near elevated levels as IBJA pegged spot around ₹1.13 lakh per 10g and MCX traded near ₹1.12–₹1.14 lakh, after retail quotes hit a record ₹1,18,900 earlier this week.
• Silver notched a lifetime high of ₹1.40 lakh/kg in Delhi and remained strong on MCX near ₹1.36–₹1.37 lakh, supported by robust industrial demand and tight supply.
• Pakistan’s 24k gold eased to Rs396,800 per tola after touching a record Rs398,800, tracking the international pullback and a steadier rupee.
• Analysts cite sustained central‑bank buying and ETF inflows as structural supports, even as forecasts flag near‑term pullbacks and some project further upside, including gold above $4,800 and silver toward ₹1.5 lakh/kg.