Gold sustains shine, heads for 7th weekly gain

Gold extended its winning streak on Friday, firmly on course for a seventh straight weekly advance after scaling $3923.3 per ounce earlier this week. The yellow metal drew strength from mounting safe-haven demand as the partial US government shutdown delayed crucial jobs data, clouding the outlook for policymakers. Softer cues from ADP payrolls, JOLTS and Challenger hiring trends further bolstered expectations of two more Fed rate cuts despite sticky inflation pressures. On the domestic front, MCX December futures traded steady at ₹117610 per 10 grams, with festive season demand from weddings and Diwali expected to provide an additional tailwind.

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