Overview

• Global spot touched about $3,546 per ounce and Comex futures pushed above $3,620–$3,630 to new all‑time highs this week before a modest retreat.
• Indian prices breached roughly Rs 1.07 lakh per 10 grams across major cities, then fell about Rs 1,000 in Delhi on profit‑taking, according to IBJA and the All India Sarafa Association.
• Markets price a very high probability of a September Federal Reserve cut after softer U.S. job openings, with Friday’s payrolls seen as the next key test.
• Foreign central‑bank buying remains strong, and compiled Bloomberg data indicate official gold holdings have overtaken foreign‑held U.S. Treasuries for the first time since 1996.
• Wall Street forecasts point to more upside, with JPMorgan projecting ~$4,000 by the second quarter of 2026 and up to $4,250 by end‑2026, while Goldman Sachs sees ~$4,000 by mid‑2026 with potential for higher if private investment rises.