Overview
- International spot gold traded around $4,100–$4,163 per ounce in early October, reflecting a short-term retreat from mid‑2026 highs and heightened intraday swings.
- Indian retail quotations for 24K/22K hovered near Rs1.48–1.49 lakh per 10 grams while MCX December futures moved around Rs1.49 lakh, showing two-day declines before a small bounce in futures on Oct. 8.
- Pakistan’s official sarafa rates issued by the APGJSA fell from Rs437,536 per tola on Oct. 6 to about Rs434,436 on Oct. 7, with a modest recovery reported back toward Rs435,036 on Oct. 8.
- Market participants cited a firmer US dollar, higher US Treasury yields and elevated odds of a December Fed rate increase as the main near‑term forces reducing demand for non‑yielding gold and raising volatility.
- Longer‑term buying by central banks and institutional investors is cited as a floor under prices, but analysts warn technical support near $4,090–$4,100 must hold to avoid deeper declines and consumers should expect continued short‑term swings.