Overview

• Gold extended gains to fresh highs last week, with December futures settling near $3,909 after touching $3,923, while MCX gold closed at Rs 1,18,113 per 10g just below its record.
• Silver outpaced gold as MCX futures ended at Rs 1,45,744 per kg after a new high of Rs 1,46,975, and Comex December rose to $47.96 after a record $48.32.
• Analysts cite a weaker dollar, concerns over a partial U.S. government shutdown that has delayed some data releases, renewed ETF inflows and central‑bank demand as key supports.
• Market watchers expect choppy trade this week with focus on the funding bill vote, the FOMC minutes release and a speech by Fed Chair Jerome Powell, with some pricing for a possible rate cut later this month.
• Most strategists recommend larger gold allocations for stability, staged buying on dips and using ETFs or digital holdings over physical, while noting silver’s momentum driven by solar, EV and electronics demand and persistent supply deficits.