Overview

• Spot prices hit an intraday high of $4,006.68 per ounce in Asian trading on Oct. 8, with later quotes around $4,036 and U.S. December futures near $4,058.
• Traders cited a U.S. government shutdown delaying key data, political turmoil in France, trade tensions, and conflicts in Ukraine and Gaza as catalysts for flight-to-safety buying.
• ETF inflows and sustained central-bank accumulation, including strong Chinese demand, underpinned the rally, with the World Gold Council reporting Q2 demand up 3% to 1,249 tonnes.
• Silver climbed to $48.97 per ounce, moving within a dollar of its record, reflecting broader strength across precious metals.
• In Brazil, 24-karat gold was quoted at R$681.26 per gram, with local prices amplified by currency moves, taxes, premiums, and market liquidity.