Overview
- Global spot gold eased into the $4,100–4,170 per ounce range following dollar strength and higher US Treasury yields, with major outlets reporting the move on Wednesday.
- Indian retail rates fell to about Rs1.48–1.49 lakh per 10 grams and MCX December futures slid by several hundred rupees as international weakness transmitted into domestic markets.
- Pakistan’s benchmark 24K rate dropped from Rs437,536 to Rs434,436 per tola as the All-Pakistan Gems and Jewellers Sarafa Association adjusted local quotes in line with the global slide.
- Traders and analysts pointed to a firmer US dollar, rising long-term yields and investor focus on the Federal Reserve’s September meeting minutes as the immediate drivers of the pullback.
- Structural supports — continued central-bank buying, steady jewellery demand and seasonal local factors — are limiting deeper declines, but near-term volatility will hinge on Fed guidance, US yields and oil or supply shocks.