Overview
- International prices pushed above $4,300 an ounce, with Comex futures briefly near $4,392, while Indian city rates climbed to ₹1.30–₹1.35 lakh per 10 grams ahead of Dhanteras.
- On MCX, December gold hit a record near ₹1.32 lakh per 10 grams, and silver futures reached about ₹1.70 lakh per kg as global spot silver approached $54 an ounce.
- Renewed U.S.–China trade frictions, a softer dollar, U.S. fiscal and credit concerns, and strong central‑bank and ETF buying underpinned the rally.
- Reports highlighted sizeable institutional demand, including hundreds of tonnes of central‑bank purchases and robust ETF inflows, reinforcing bullion’s appeal this year.
- Physical‑market signals diverged as stronger rupee and easing premiums tempered Delhi spot rates, while retailers reported buyers shifting to coins, bars and lighter jewellery, with analysts both lifting targets and advising risk management.