Overview

• Comex futures hit an all-time high near $3,655 per ounce, while MCX contracts in India set records around ₹1,07,807–₹1,08,840 per 10 grams before a slight pullback.
• Indian retail prices reached about ₹1,06,338 per 10 grams, capping a weekly rise of nearly ₹4,000 and a one-month gain of more than ₹6,000, according to IBJA.
• Silver in India also climbed to a record near ₹1.23 lakh per kg, extending strong monthly gains alongside gold.
• Analysts cite a weaker dollar, sliding Treasury yields, strong ETF inflows, and sustained central bank buying as key supports, with technicals flagged as overbought and near-term profit-taking possible.
• Traders are focused on inflation data from the US, China, Germany, and India plus the ECB meeting and remarks by Christine Lagarde, while one report notes central banks’ gold reserves now exceed their US Treasury holdings for the first time since 1996.