Overview
- On MCX, December gold rose Rs 475 to Rs 1,25,700 per 10 grams and December silver gained Rs 1,388 to Rs 1,57,709 per kilogram.
- Comex December gold advanced $28.20 to $4,193.40 an ounce as silver ticked up to $51.61 an ounce.
- Traders now price more than an 80% chance of a 25 basis point US rate cut in December, up from about 50% a week earlier.
- Analysts linked the move to delayed US data signaling cooling momentum, citing soft September retail sales and producer prices in line with expectations.
- Some analysts say gains could be restrained by signs of easing geopolitical risk, while Indian city retail 24K prices were about Rs 87 higher day on day.