Overview

• India gold prices rose back above the Rs 1,10,000 mark to Rs 1,10,430 per 10 grams on Monday, up from Rs 1,09,530 on Friday, according to the India Bullion Association.
• International gold hovered around $3,689 an ounce after setting fresh records last week, with futures having peaked near $3,744 per ounce.
• Analysts cite the Federal Reserve’s 25-basis-point cut and guidance for more easing, along with continued central-bank and ETF buying and geopolitical tensions, as key supports.
• With the festive and wedding season starting, traders expect stronger physical demand in India, and a GST reduction taking effect on Sept. 22 could free up household budgets for purchases.
• Silver extended its outperformance, trading near Rs 1,30,000 per kilogram on MCX and close to $43 per ounce overseas, supported by investment inflows, robust solar demand and constrained mine supply.