Overview

• Spot prices notched an all‑time high near $3,759 per ounce as December futures traded around $3,787–$3,795.
• Markets priced further Federal Reserve cuts, with CME data showing about a 90% chance of a 25 bp move in October and strong odds of another in December, as investors awaited Jerome Powell’s remarks.
• SPDR Gold Trust holdings rose 0.60% to 1,000.57 tonnes, underscoring strong fund inflows alongside a slightly softer dollar.
• Silver hovered near a 14‑year peak around $44 per ounce, with other precious metals showing mixed moves.
• Local benchmarks hit records, including India above Rs 1.13 lakh per 10 grams in Mumbai and Pakistan at Rs 398,800 per tola, while banks and prominent investors flagged scope for $3,800–$4,000.