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1h ago

Gold, Silver Extend Record Run as India Prices Hit New Highs Ahead of U.S. Data

Traders look to the U.S. jobs report for cues on whether the rally’s momentum can hold.

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Overview

  • In India, spot gold was quoted at Rs 1,14,940 per 10 grams on Monday, with MCX December futures near Rs 1,14,909 after last week’s breakout to a Rs 1,15,139 record.
  • Gold logged a twelfth straight weekly gain on MCX, rising 3.77% for the week to close at Rs 1,14,891 per 10 grams.
  • Silver outperformed, with MCX December up 9.28% on the week to Rs 1,41,889 per kilogram after a Rs 1,42,189 record, and year-to-date gains above 60% versus gold’s 45%.
  • In global trade, gold futures settled at $3,809 per ounce after setting a new high at $3,824.60 during the week.
  • Analysts cite strong gold ETF inflows near $50 billion this year, central-bank buying, a softer dollar and festive demand, while cautioning that PMI releases and U.S. payrolls could spur profit-taking.