Overview

• In India on October 8, News18 reported Mumbai 24-carat gold at Rs 1,23,170 per 10 grams and 22-carat at Rs 1,12,900, with rates excluding GST and making charges.
• Internationally, gold crossed the $4,000-an-ounce mark for the first time, with U.S. spot at $4,011 and December futures at $4,033 by 0300 GMT.
• The Indian Express on October 7 listed all-India benchmarks at ₹12,202 per gram for 24K, ₹11,185 for 22K, and ₹9,152 for 18K as prices extended their climb.
• On the MCX, December gold futures rose 0.72% to Rs 1,21,985 per 10 grams, while silver futures gained 0.91% to Rs 1,47,120 per kg and retail silver was quoted at Rs 1,57,100 per kg.
• Coverage attributes the rally to economic and geopolitical risks, expectations of U.S. Federal Reserve rate cuts, and seasonal festive demand in India, with one analyst projecting potential upside toward $4,800 alongside periodic corrections.