Overview

• India’s MCX gold futures set lifetime highs, with October at Rs 1,14,992 per 10 grams and December at Rs 1,15,925.
• Globally, December gold futures reached about $3,837.72 per ounce and silver touched $47.39, marking multi-year highs.
• Traders price roughly a 90% chance of a Fed cut in October and about 65% odds for another in December, with the dollar index slipping to 97.97 after a small decline.
• Motilal Oswal’s Manav Modi reiterates a buy-on-dips stance for gold, flagging support near Rs 1,13,500 and resistance around Rs 1,15,800.
• Geopolitical and trade risks persist, with new U.S. tariffs from President Trump taking effect October 1 and potential shutdown concerns, while ETF interest rises even as China’s physical demand softens.