Overview

• Spot gold touched fresh highs near $3,710–$3,714 per ounce on Monday as traders geared up for US inflation data and a slate of Federal Reserve speeches this week.
• India Bullion Association prices climbed to ₹1,11,870 per 10 grams, with MCX futures trading above ₹1.11 lakh, as festive-season buying reinforced safe-haven interest.
• Pakistan logged a new peak with per-tola gold at Rs393,700 and 10 grams at Rs337,534, according to the All-Pakistan Gems and Jewellers Sarafa Association.
• Analysts cite the Fed’s 25-basis-point cut and dovish guidance, ongoing central-bank and ETF demand, and geopolitical tensions as key supports, while warning of near-term volatility.
• Silver extended its outperformance, hovering around $43–$44 overseas and crossing ₹1.33 lakh per kg on Indian futures, helped by robust industrial demand from solar and EVs and constrained supply.