Overview

• Global benchmarks pushed higher with Comex December gold futures touching about $4,211 per ounce and spot quotes hovering near record territory.
• India’s futures on MCX hit a lifetime high of Rs 1,27,500 per 10 grams as retail buying for Dhanteras gathered pace and city benchmarks crossed or neared the Rs 1.3 lakh mark.
• Pakistan’s All-Pakistan Gems and Jewellers Sarafa Association reported a new peak of Rs 440,900 per tola, up from Tuesday’s record Rs 435,100.
• Silver notched fresh highs with India’s benchmark near Rs 1.85 lakh per kg and Mumbai’s Zaveri Bazaar traders citing prices above Rs 2 lakh plus halted festive orders due to shortages and premiums.
• Analysts highlighted US–China trade frictions, expectations of further Fed easing, strong central‑bank buying and ETF inflows as key drivers, with warnings that improved US data could trigger a short‑term pullback.