Overview
- A hotter-than-expected US August jobs report that showed 162,000 payroll gains triggered a rapid market move on Friday that lifted the dollar and Treasury yields and sent global spot gold down to an intra-day low near $4,364.99.
- Spot gold traded in the mid-$4,400s over the weekend after the sell-off, leaving bullion roughly 3% lower on the week from earlier highs.
- Domestic physical markets diverged from global spot moves as Indian retail rates stayed elevated near Rs1.53–1.61 lakh per 10 grams and Pakistan’s price jumped to Rs469,136 per tola, driven by local taxes, premiums and active buying.
- Market data showed silver fell alongside gold and cryptocurrencies also slid during the same brief repricing, while analysts cited large asset managers buying the dip as a source of potential medium-term support.
- Traders now say the next direction for gold will depend on upcoming inflation releases, further moves in Treasury yields and any official Federal Reserve guidance about the policy path.