Overview
- COMEX gold traded above $5,000 per ounce with recent quotes around $5,066–$5,088, and silver near $82, reflecting a still-elevated global backdrop.
- Indian benchmarks stayed high but volatile, with MCX gold hovering around ₹1.58–₹1.60 lakh per 10g and intraday dips reported as the dollar firmed; MCX silver futures eased near ₹2.61 lakh/kg while spot consolidated around ₹2,89,900/kg.
- In Delhi on Feb 11, the All India Sarafa Association noted silver up ₹4,000 to ₹2,68,500/kg and gold near ₹1,61,300 per 10g as domestic prices tracked the global upswing.
- Pakistan’s local market mirrored the international surge, with gold at roughly Rs528,562 per tola and silver at Rs8,735 per tola on Feb 12.
- Analysts linked the broader gains to heightened safe-haven buying and increased odds of Fed rate cuts after softer US data, while a stronger jobs report and firmer dollar triggered short-term pullbacks; ETF activity remained brisk with mixed moves.