Overview

• Spot gold touched new highs near $3,840–$3,866 per ounce on Sept. 30, while silver approached $47, its strongest level in about 14 years.
• The metal is up roughly 11%–12% for September, positioning for the best monthly gain since August 2011, according to multiple market tallies.
• Traders increased wagers on Federal Reserve rate cuts after in-line PCE data, with CME FedWatch showing high odds of a 25-basis-point reduction at the late-October meeting.
• Shutdown risk intensified after talks at the White House ended without a funding deal, and the Labor Department said a lapse would suspend key releases, including the monthly jobs report.
• Record global prices rippled through local markets, with India posting new city-wise highs and Pakistan’s benchmark rate topping Rs403,600 per tola, while ETF inflows into GLD and IAU strengthened in September.