Overview

• Spot bullion topped roughly $3,720–$3,730 an ounce on Monday with U.S. futures near $3,740, extending last week’s all-time highs.
• ETF holdings jumped 0.9% on Friday to a three-year peak, while ongoing central bank buying continued to underpin the rally, according to Bloomberg data.
• India posted new records with India Bullion Association prices at Rs 1,11,870 per 10 grams and MCX December futures breaching Rs 1,11,750.
• Local benchmarks also hit lifetime highs in Pakistan at Rs 393,700 per tola and in Dubai where 24K rose to Dh448.75 per gram, Dubai Jewellery Group data showed.
• Silver outperformed near $43.8 an ounce with year-to-date gains above 50%, supported by investment flows and strong industrial demand.