Overview
- Spot and futures prices hovered around $5,010–$5,025 per ounce after a recent pullback, with several markets noting a break in a multi‑day losing streak.
- The Federal Reserve began a two‑day policy meeting, with rates widely expected to stay on hold and futures implying about 26 basis points of cuts by December.
- Brent crude stayed above $100 per barrel as Strait of Hormuz disruptions tied to the US‑Israel–Iran conflict kept supply risks elevated despite some vessel transits.
- India mirrored global moves, with MCX gold futures rebounding to roughly ₹1.56–₹1.57 lakh per 10g and select spot quotes near ₹1.61 lakh in the national capital.
- Pakistan’s local bullion rates climbed, taking per tola gold up by around Rs1,000 to roughly Rs523,700, while silver prices also advanced.