Overview

• A US government agency’s initial ruling on duties for 100-oz and 1-kg gold bars briefly sent New York futures premiums above $100 an ounce before White House exemptions narrowed the gap to under $60.
• International gold eased from intraday highs above $3,500 per ounce but remains near record levels supported by expectations of Federal Reserve rate cuts and safe-haven flows.
• In India, retail rates fell by about Rs 900 to Rs 1,02,520 per 10 grams as stockists sold into recent peaks following softer geopolitical tensions.
• Ongoing central bank purchases and expanding ETF holdings continue to provide structural support for gold prices despite recent volatility.
• Market participants are awaiting US Core CPI and PPI releases along with Federal Reserve speeches for the next major directional cues in the bullion market.