Overview
- Comex gold rose more than 1% to around $4,080 an ounce, while MCX December futures jumped to Rs 1,23,100 per 10 grams in a fourth straight advance.
- Silver rallied alongside gold to about $49.5 on Comex, with MCX silver up to Rs 1,51,530 per kilogram.
- Markets price roughly a 67% chance of a Federal Reserve rate cut in December, supported by softer US jobs data and the weakest consumer sentiment in nearly three-and-a-half years.
- The US Senate signaled progress on reopening the government after a 40-day shutdown, which would restore delayed economic data watched for policy cues.
- Analysts say the next direction hinges on US CPI and China data, even as 2025 gains above 50%, central bank buying, and recent ETF inflows underpin bullion.