Overview
- Spot bullion hovered near $4,000 on Thursday, with Comex futures briefly topping $4,024 after a nearly 2% drop earlier in the week.
- The dollar eased from a recent four‑month high and Treasury yields slipped, supporting gold as investors weighed a prolonged US government shutdown and tariff legal uncertainty.
- US private payrolls rose by 42,000 in October, and recent Federal Reserve commentary cooled expectations for another rate cut in December, keeping trading choppy.
- Pakistan’s 24‑karat gold rose by Rs3,700 to Rs423,062 per tola as local markets tracked the global rebound, according to APGJSA data.
- Policy and demand signals stayed in focus, with China reducing a VAT exemption on exchange‑traded gold from 13% to 6% from Nov. 1 and an SBI study urging a long‑term Indian gold policy given heavy import reliance.